Price of gold falls by $6 per ounce to $4,539
Gold and silver prices declined in both international and domestic markets on Saturday. In the international bullion market, the price of gold fell by $6 per ounce to $4,539.
According to the All-Pakistan Gems. Jewellers Sarafa Association, in the local market, the price of gold per tola decreased by Rs600 to Rs476,262. The price of 10 grams of gold also declined by Rs515 to Rs408,317.
Meanwhile, silver prices also recorded a sharp decrease in the domestic market. The price of silver per tola dropped by Rs159 to Rs8,073. while the rate for 10 grams of silver fell by Rs136 to Rs6,921.
Read:Gold per tola falls by Rs15,500 as global prices decline
Aday earlier, gold prices recorded a sharp decline in global and domestic markets. In the international bullion market, the price of gold per ounce fell by $155, bringing it to $4,545 per ounce.
According to the All-Pakistan Gems. Jewellers Sarafa Association, in the local market, the price of gold per tola decreased by Rs15,500 to Rs476,862. Similarly, the price of 10 grams of gold fell by Rs13,289 to Rs408,832.
Meanwhile, silver prices also declined in the country. The price of per tola silver dropped by Rs972 to Rs8,232. while the price of 10 grams of silver fell by Rs833 to Rs7,057.
On Thursday, gold prices in Pakistan edged higher, tracking slight gains in the international market, where bullion remained broadly steady as investors weighed developments in the US-Israel conflict with Iran. signals from high-level diplomatic engagements between the United States and China.
Read more:SBP forex reserves increase $17m
In the local market, the price of gold per tola rose by Rs1,000 to settle at Rs492,362, according to rates issued by the All-Pakistan Gems. Jewellers Sarafa Association. Similarly, the price of 10-gram gold increased by Rs858 to Rs422,121.
On Wednesday. gold had closed at Rs491,362 per tola after declining by Rs1,100, reflecting continued volatility in the domestic bullion market in line with shifting global cues. In the international market. spot gold was little changed at $4,689.99 per ounce at 1043 am EDT (1443 GMT), while the US gold futures for June delivery slipped 0.2% to $4,695.80.
The US dollar index edged up 0.2%, making dollar-denominated bullion relatively more expensive for holders of other currencies. slightly capping the upside momentum.
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