Gold has become cheaper again in the global and local gold markets after gold has decreased again in the global markets after two days.
According to the All Pakistan Sarafa Association, 24-karat gold per tola has become cheaper by Rs 2,200 to Rs 473,162, while the price of 10 grams of gold has decreased by Rs 1,886 and the new price has been set at Rs 455,660.
On the other hand, a decrease in the price of gold was also seen in the global market, where gold per ounce became cheaper by $ 22 to $ 4,508.
According to the Sarafa Bazar, there was no change in the price of silver and silver remained at Rs 8,034 per tola.
The international dip is largely driven by a strengthening US Dollar and persistent inflation concerns tied to high oil prices. This has fueled market expectations that the US Federal Reserve may look toward an interest rate hike later this year, which typically dampens the appeal of non-yielding assets like gold.
Commodity analysts note that traders are closely monitoring global diplomatic developments, including US-Iran peace talks mediated in the region, which are currently serving as a major trigger for broader market volatility
