Gold loses safe-haven shine amid escalating war

KARACHI: Often dubbed a safe haven in times of global crises, local gold prices for 10 grams and one tola have dropped to Rs428,208 and Rs499,462, respectively, down by Rs20,833 and Rs24,300, following a steep decline of $243 to $4,767 per ounce on international markets amid the escalating war in the Middle East. On Feb 28, when an illegal attack was launched by the US and Israel on Iran, the rates for 10 grams and one tola stood at Rs472,018 and Rs550,562, based on a global gold price of $5,...

By none@none.com (Aamir Shafaat Khan)