KARACHI – Gold prices continued to fall in Pakistan on Thursday amid downward trend in international market following fears oil-driven inflation in the world.
The price of gold in Pakistan has witnessed a notable decline, with one tola now costing Rs493,762, down by Rs5,200. Similarly, the price of 10 grams of gold decreased by Rs4,458, reaching Rs423,321.
Experts attribute this decline to movements in the global market, where gold prices fell by $52 per ounce, bringing the international rate to $4,714 per ounce.
Silver prices also fell, with a reduction of Rs225 per tola, bringing the price to Rs8,099.
Meanwhile, oil prices continued their upward trend on Thursday, fueled by stalled negotiations between Iran and the United States and ongoing trade restrictions through the strategic Strait of Hormuz.
Brent crude futures climbed $1.26, or 1.2%, reaching $103.17 per barrel by 0630 GMT, following Wednesday’s settlement above the $100 mark for the first time in over two weeks.
Meanwhile, West Texas Intermediate (WTI) futures rose $1.20, or 1.3%, to $94.16 per barrel, reflecting market concerns over geopolitical tensions affecting global oil supply.
Analysts say the combination of diplomatic uncertainty and continued shipping constraints is keeping crude prices elevated, signaling potential volatility in the energy markets in the near term.
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