PESHAWAR: Gold prices in Peshawar remained stable on Thursday morning; however, the trader is awaiting the latest rates after changes in the global bullion market.
Last night, prices dropped by Rs1,000 to Rs426,436. Similarly, the price of 10 grams of gold decreased by Rs857 to Rs365,600. The price of silver per tola in the local market also dropped by Rs68, bringing it down to Rs6,291.
On the previous day, 24-karat gold per tola had fallen by Rs4,300 to Rs427,436, while the price of 10 grams of gold decreased by Rs3,687 to Rs366,457. The price of silver per tola had also dropped by Rs174 to Rs6,223.
In the international market, gold prices declined by $10 to $4,040 per ounce. Experts attribute the drop in local gold prices to the decline in international rates, fluctuations in the value of the US dollar, and changing investor sentiment. Jewellers said that the recent decline is expected to increase interest among people looking to buy jewellery.
However, due to continued volatility in prices, both buyers and investors are adopting a cautious approach. Analysts added that if the current trend in global gold prices continues, further decline or stability may be seen in the local market in the coming days. However, any major global economic or political development could again change the direction of prices.
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