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Commodities

Pakistan Gold Prices Plunge Amid Oil Price Surge

Guavy AI Editorial Team
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Oil Gold
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Gold prices in Pakistan dropped sharply on Monday, following a decline in international bullion markets as oil prices rose due to uncertainty over a potential US-Iran truce.

The price of 24-karat gold fell by Rs12,800 per tola to Rs438,136, while the price of 10 grams declined by Rs10,973 to Rs375,631, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

In international markets, spot gold fell $128 to $4,156 per ounce.

The decline in gold prices is attributed to higher interest rates, which make interest-bearing assets more attractive, and increased oil prices, which contribute to inflation concerns among investors.

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