KARACHI – Gold and silver snapped their gaining streak in domestic market of Pakistan on Thursday in line with dropping global prices.
Data shared by All Pakistan Gems and Jewellers Association showed per tola gold price fell by Rs3,700 to drop to Rs482,462.
Similarly, the price of 10-gram recorded a decline of Rs3,172 with new rate settling at Rs413,633.
The precious commodity also witnessed bearish trend in international market where per ounce rate dipped by $37 to reach $4,601.
Silver prices in Pakistan plunged by Rs150 and Rs129 to reach Rs9,425 per tola and Rs8,080 per 10-gram, respectively.
Experts said the dip came as geopolitical and trade tensions eased following remarks from U.S. President Donald Trump.
Trump indicated that he might hold off on military action against Iran and that the U.S. would delay imposing tariffs on essential minerals.
At a press conference, Trump said he is receiving reports suggesting a decrease in casualties from Iran’s crackdown on protests, adopting a more cautious approach after previously threatening to intervene.
