Gold and silver prices on Tuesday declined in both international and domestic markets, reflecting broader trends in the bullion trade.<\/p>\n
In the international bullion market, gold fell by $10 per ounce to settle at $4,778.<\/p>\n
In the local market, the price of gold per tola decreased by Rs1,000 to Rs500,162. Similarly, the price of 10 grams of gold dropped by Rs857 to Rs428,808.<\/p>\n
Silver prices also recorded a decline. The price per tola of silver fell by Rs59 to Rs8,358, while the rate for 10 grams of silver decreased by Rs51 to Rs7,165.<\/p>\n
Among other metals, spot silver fell 1.4% to $78.80 per ounce, platinum lost 0.8% to $2,072.22, and palladium \u200bwas down 0.3% at $1,547.25.
\nOn Monday, gold prices in Pakistan retreated significantly, tracking a sharp downturn in the international market as global investors navigated a volatile mix of geopolitical tensions and strengthening economic indicators.<\/p>\n
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola dropped by Rs4,900 to settle at Rs501,162.<\/p>\n
This correction effectively wiped out the gains seen during the previous session on Saturday, when prices had climbed by Rs4,500. Similarly, the 10-gram gold rate fell by Rs4,201 to reach Rs429,665, while silver shed Rs145 to close at Rs8,417 per tola.<\/p>\n
The domestic slump was a direct reflection of the global stage, where spot gold dipped 0.5% to $4,802.75 per ounce after hitting a one-week low of $4,736 earlier in the day.<\/p>\n
The primary catalyst for this fluctuation was the surge in the US dollar and rising benchmark 10-year Treasury yields. As the dollar hit a one-week high, gold became more expensive for international buyers, while higher yields increased the opportunity cost of holding non-yielding bullion.<\/p>\n
These shifts were exacerbated by renewed US-Iran tensions following the US takeover of an Iranian cargo vessel, an event that sent oil prices climbing by 5% and injected fresh uncertainty into markets.<\/p>\n
Market experts noted that while gold initially dipped due to the news of renewed friction, it managed a slight recovery to hold near the $4,800 mark.<\/p>\n","protected":false},"excerpt":{"rendered":"