KARACHI – Gold maintained its gaining streak in Pakistan for second consecutive day amid rising prices in international market on Tuesday.
Data shared by All Pakistan Gems and Jewellers Association showed per tola price moved up by Rs4,600, taking the rate to Rs499,962.
Similarly, the price of 10-gram gold surged by Rs3,943 with new rate settling at Rs428,636.
The precious commodity witnessed an increase of $46 per ounce in international bullion market where new rate hovers at $4,776.
Silver prices also saw a significant jump in Pakistan with per tola rate soaring by Rs326 to climb to Rs8,260.
Meanwhile, global oil prices moved down amid growing speculation of potential US–Iran diplomatic breakthrough, just as military tensions over the Strait of Hormuz escalated into a dangerous standoff threatening global supply routes.
Benchmark crude prices retreated after Monday’s explosive rally. WTI crude futures plunged $2.32 to $96.76 per barrel, while Brent crude fell $1.45 to $97.91.
The drop followed a dramatic previous session in which Brent surged over 4% and WTI climbed nearly 3%, triggered by the U.S. military’s unprecedented blockade of Iranian ports.
About the Author
