Business

Oil and gold prices rise after US airstrikes in Syria

The oil and gold prices have reportedly surged in global market in wake of recent United States airstrikes at a Syrian airbase on Friday, ARY News reported.

The economists opined that the rise was followed by the toughest airstrikes by US that had heightened geopolitical uncertainty in the Middle-East.

Both in Asian and European markets, a three percent rise has been recorded in the prices of crude oil which reach to 53.24 USD/barrel.

Meanwhile, the gold prices rose by 16.50 USD/ounce after investors turned towards buying gold.

Moreover, cautious trading was reported in Asian, European, and U.S. stock markets as result of the US airstrikes.

However, Pakistan Stock Exchange (PSX), contrary to other stock markets, had gained 533 points in benchmark 100-index on last trading day as result of investments in oil, gas, cement and fertiliser sector.

 

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