Gold price down
KARACHI:(Daily Jurat) Gold prices in Pakistan declined on Friday in line with a fall in the international bullion market.According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola dropped by Rs4,600 to Rs427,436.The price of 10 grams of 24-karat gold fell by Rs3,944 to Rs366,457, while 10 grams of 22-karat gold declined by Rs3,615 to Rs335,931.In the international market, gold prices fell by $46 to $4,050 per ounce.
Meanwhile, silver prices also registered a decline. The price of silver per tola decreased by Rs61 to Rs6,309, while 10 grams of silver fell by Rs53 to Rs5,408.In the international market, silver prices dropped by $0.61 to $58.30 per ounce, the association said.
Gold came under pressure as investors monitored escalating tensions in the Middle East and their potential impact on global inflation and monetary policy. Rising oil prices have fueled concerns that inflationary pressures could persist, prompting the US Federal Reserve to keep interest rates higher for longer.
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