Crude and Gold Extend Gains, Stocks Sink on Fear of US-Iran War

Pakistan Stock Exchange bears a substantial downfall due to panic selling over the prevailing geopolitical situation.
Donald Trump stood by his threat to go after Iranian cultural sites, warning of a “major retaliation” if Iran strikes back for the killing of one of its top military commanders, which shocked world markets and flashed a sell-off in stocks and a spike in crude and Gold.
Speaking at the National Australia Bank Ray Attrill shared that “Geopolitical tensions look like remaining elevated in the coming days, so lending support to oil prices and keeping risk asset markets on the defensive.”
Crude oil and Gas Index closed at 4,872.74 points, down 100.23 points or 2.02 % with 25.668 million shares.
With a single-day increase of PKR 2,600, the price of gold surged to record high on the local market hitting PKR 93,400 per tola.

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Pak Revenue

A reliable source for business, taxation & financial news, covering incentives for CPEC, automobile and performance of stock and mercantile exchanges.

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