WASHINGTON: The prices of gold and crude oil fell sharply on Wednesday in the international shortly after the speech of the United States President Donald Trump in which he announced to impose ‘additional punishing economic sanctions’ on the Iranian regime, ARY News reported.
According to the details, the gold prices decreased by $14 per ounce and is being currently traded at $1,560 per ounce in the international market.
Meanwhile, crude oil dipped 3.8% to $60.28 per barrel in the world market.
In his speech to the nation, the US president said, “I’m pleased to inform you, the American people should be extremely grateful and happy. No American was harmed in last night’s attack by the Iranian regime.
Read More: Gold rates edge up in local market
Earlier in the day, gold prices in the local market had aged up by Rs700 to Rs92,800 per tola.
The rate of 10 grams of yellow metal also increased by Rs601 to Rs79,561.
Gold rates on Monday had climbed to an all-time high with an increase of Rs2850 per tola and traded at Rs93350.
10 grams of gold had also recorded an upsurge in price with an increase of Rs2442.
Meanwhile, gold prices in the international market had surged more than 2%, crossing the key $1,600 mark, as investors sought cover in the safe-haven metal after Iran fired rockets at Iraqi airbase which hosts U.S. forces.
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