gold
Market participants attributed the rally to heightened uncertainty surrounding US monetary policy and political developments. Adnan Agar, Director at Interactive Commodities, said gold’s sustained rise was being driven by multiple factors, with the US Federal Reserve playing the most critical role.”The primary reason is the Fed. Markets are under pressure due to expectations of rate cuts, which are clearly favourable for gold and silver,” Agar said. He added that political uncertainty linked to the Trump administration and broader geopolitical risks were further fueling investor demand for precious metals.
Gold has now reached an all-time high of $4,627 per ounce and continues to trade just below that level, suggesting further upside if current conditions persist. Agar noted that silver has also broken its previous peak of $84, rising to as high as $85.73, and has already delivered a 16% return since the start of the year.
Meanwhile, the Pakistani rupee edged up Rs0.01, closing at 280.01 against the dollar, extending last week’s modest inter-bank gains.
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