Gold and silver prices increased in both international and local markets on Wednesday after a two-day pause.<\/p>\n
In the international bullion market, the price of gold rose by $13 per ounce to $4,933. In the local market, 24-carat gold per tola gained Rs1,300 to reach Rs516,062, while the price per 10 grams increased by Rs1,114 to Rs442,439.<\/p>\n
Silver also saw a moderate rise, with the price per tola increasing by Rs32 to Rs8,046 and per 10 grams by Rs28 to Rs6,898 in local markets.<\/p>\n
Spot gold rose 1.1% to $4,931.61 per ounce by 0627 GMT, after declining more than 2% on Tuesday. US gold futures for April delivery gained 0.9% to $4,950.20.<\/p>\n
Spot silver rose 2.9% to $75.58 per ounce after dropping more than 5% on Tuesday.<\/p>\n
Spot platinum gained 2% to $2,047.75 per ounce, while palladium added 2.4% to $1,722.22.<\/p>\n
Earlier on Tuesday, gold prices in the local market dropped by Rs9,000 per tola, to settle at Rs514,762, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association. Similarly, 10-gram gold was sold at Rs441,325 after a decline of Rs7,716 during the day.<\/p>\n
The latest fall comes a day after gold per tola decreased by Rs3,200 to Rs523,762, indicating heightened volatility in domestic bullion markets in line with global trends.<\/p>\n
Silver prices also moved lower, shedding Rs150 to reach Rs8,014 per tola in the local market. Internationally, spot gold fell 2.2% to $4,883.85 per ounce by 1633 GMT, while US gold futures for April delivery declined 2.9% to $4,900.80 per ounce, according to Reuters.<\/p>\n
Market analysts attributed the global decline primarily to reduced geopolitical risk premiums after signs of progress in US-Iran nuclear negotiations and renewed diplomatic engagement around the Russia-Ukraine conflict. Such developments typically reduce investor appetite for safe-haven assets like gold.<\/p>\n","protected":false},"excerpt":{"rendered":"