Safe-haven gold climbs globally; Pakistan signals fuel relief

Global gold prices saw a notable increase, rising by 0.82 per cent amid continued economic uncertainty. The price of gold increased by $39.39 per ounce, reaching $4,831.05 compared to $4,791.66 a day earlier.

Analysts attribute the rise to global financial uncertainty and stronger investor demand for safe-haven assets. In Pakistan, gold is currently priced at Rs 506,000 per tola, while 10 grams stands at Rs 433,818.

FUEL PRICES EXPECTED TO EASE IN PAKISTAN

In related economic developments, Pakistan’s Minister of State for Finance Bilal Azhar Kayani said a decision to reduce petrol prices is expected next Friday, following adjustments in diesel rates.

He said the move will be based on global market trends and added that recent geopolitical developments, including a ceasefire, have had a positive impact on global and local economic conditions.

Kayani also highlighted that Pakistan has re-entered the global Eurobond market after four years, calling it a positive sign for economic stability and investor confidence.