A significant drop was seen in the gold market, where the price of gold was recorded as a decrease of Rs 1,000 per tola, while silver became cheaper by Rs 30.
According to the details, the price of gold in the global market decreased from $ 4,455 to $ 4,445 per ounce after a decrease of $ 10 per ounce. This global decrease also had an impact on the local market, as a result of which the price of gold decreased by Rs 1,000 per tola to Rs 467,262 per tola and the price of 10 grams of gold decreased by Rs 858 to Rs 4,601.
Similarly, the price of silver in the local market was also affected and after a decrease of Rs 30 per tola, it reached Rs 7454 per tola. Experts say that the effects of fluctuations in gold prices in the global market can be felt immediately at the local level as well and investors should be cautious at this time.
According to international media reports, the price of gold rose by about 4 percent in a single day to above $4,550 per ounce after US President Donald Trump’s recent statement regarding negotiations with Iran.
This increase was seen when Trump indicated that Iran had made an ‘offer’ regarding energy transmission through the Strait of Hormuz, which is being considered as a breakthrough in possible peace talks.
According to reports, the talks may start from Thursday, but there has been no official response from Tehran yet. According to international media reports, after nine consecutive days of decline, traders suddenly changed their strategy and gold buying increased.
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