KARACHI:
Gold prices on Tuesday declined in both the international and local bullion markets, while silver prices registered an increase. In the international bullion market, the price of gold fell by $41 per ounce to $4,024.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), in the local market, the price of gold per tola also declined by Rs4,100 to Rs424,836. The price of 10 grams of gold decreased by Rs3,515 to Rs364,228.
Spot silver gained 1% to $58.88 per ounce, platinum was steady at $1,574.75, while palladium rose 1.5% to $1,232.16. However, all three metals were headed for quarterly and monthly losses.
Meanwhile, the price of silver per tola increased by Rs25 to Rs6,349. The price of 10 grams of silver also rose by Rs22 to Rs5,443.
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On Monday, gold prices declined locally, tracking losses in the international market as fresh US-Iran tensions boosted oil prices and stoked inflation fears, raising expectations of higher interest rates.
In the local market, the price of gold per tola stood at Rs428,936 after a drop of Rs2,300, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association.
Similarly, the 10-gram gold was sold for Rs367,743 after falling by Rs1,972. The price of silver decreased by Rs69 to Rs6,324 per tola
On Saturday, the per-tola gold had closed at Rs431,236 following a decline of Rs1,000.
