Gold prices decline in international and local markets
Business
Traders expect further movement in gold prices depending on international market trends.
KARACHI (Dunya News) - Gold prices recorded a noticeable decline on Tuesday in both international and domestic markets.
According to the global bullion market, the price of gold per ounce dropped by 19 dollars, bringing the new rate to $4,195. Following the downward trend in the international market, gold prices also fell in Pakistan.
In the local market, the price of 24-karat gold per tola decreased by Rs 1,900, reaching Rs 441,862. Similarly, the price of 10 grams of gold fell by Rs 1,629, bringing the new rate to Rs 378,825.
Market analysts noted that fluctuations in international trading, the strength of the US dollar, and investor sentiment continue to influence the gold market. Jewelers said that price reductions often attract buyers, particularly during wedding season, but added that uncertainty remains due to global economic factors.
In contrast, silver prices remained unchanged in the local market. The price of one tola silver stood firm at Rs 6,102, while 10 grams of silver remained steady at Rs 5,231.
Traders expect further movement in gold prices depending on international market trends, currency exchange rates, and local demand.
