Gold prices declined in both international and local bullion markets on Tuesday, while silver prices saw an increase, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). In the international market, gold fell by $41 per ounce to $4,024. Locally, the price of gold per tola dropped by Rs4,100 to Rs424,836, and 10 grams of gold decreased by Rs3,515 to Rs364,228.
Silver and Other Metals Performance
Spot silver gained 1% to $58.88 per ounce, platinum remained steady at $1,574.75, and palladium rose 1.5% to $1,232.16. However, all three metals were headed for quarterly and monthly losses. In the local market, silver per tola increased by Rs25 to Rs6,349, and 10 grams of silver rose by Rs22 to Rs5,443.
Previous Day's Decline
On Monday, gold prices declined locally, tracking losses in the international market as fresh US-Iran tensions boosted oil prices and stoked inflation fears, raising expectations of higher interest rates. According to APGJSA, the price of gold per tola stood at Rs428,936 after a drop of Rs2,300, and 10-gram gold was sold for Rs367,743 after falling by Rs1,972. Silver decreased by Rs69 to Rs6,324 per tola on Monday.
On Saturday, the per-tola gold had closed at Rs431,236 following a decline of Rs1,000.
