Karachi, Pakistan – Web Desk: Gold prices declined in both international and local markets on Tuesday, reflecting shifting global economic trends and investor sentiment.
In Karachi, bullion dealers reported a sharp drop in gold rates, influenced by movements in global markets. Analysts say the strengthening of the US dollar against major currencies, including the euro, along with rising crude oil prices and ongoing geopolitical tensions in the Middle East, have impacted the precious metals market.
Market participants noted that several central banks have slowed or paused gold purchases, while investors are increasingly opting to offload holdings amid prolonged uncertainty linked to regional conflicts.
As a result, the international gold price fell by $30 per ounce, reaching approximately $4,657 per ounce.
Following the global trend, local markets also recorded a decline. The price of gold per tola dropped by Rs3,000, settling at Rs488,462, while the price of 10 grams decreased by Rs2,572 to Rs418,777.
In contrast, silver prices remained stable in both global and domestic markets. The international price of silver held steady at $72.60 per ounce, while in Pakistan, the per tola price remained unchanged at Rs7,744, and 10 grams at Rs6,639.
Experts suggest that volatility in global commodities and currency markets will continue to influence gold prices in the near term, especially amid ongoing geopolitical developments.
