ISLAMABAD – Gold prices in Pakistan have seen a notable decline, with one tola falling by Rs4,900 to reach Rs501,162.
Similarly, the price of 10 grams of gold dropped by Rs4,201, bringing the new rate to Rs429,665.
The decrease comes after international gold rates fell by $49 per ounce, settling at $4,788. Experts attribute the drop in domestic gold prices to fluctuations in global markets and changes in the exchange rate of the rupee against the dollar.
Silver prices also decreased, with one tola now trading at Rs8,417 after a reduction of Rs145.
Analysts believe these shifts reflect a combination of global market trends and local currency valuation impacts on commodity prices.
Meanwhile, Brent crude oil climbed back toward $95 mark as global markets react to rising uncertainty ahead of US-Iran talks. Concerns over geopolitical tensions and potential disruptions in the Strait of Hormuz added pressure on investors, keeping energy markets highly volatile.
Global financial markets were thrown into fresh turmoil as oil prices spiked sharply, US dollar strengthened, and stock futures slid after attack on iranian vessel in Hormuz.
In early trading, Brent crude futures surged nearly 7% to $96.85 per barrel, reflecting renewed fears over supply disruptions from one of the world’s most critical oil routes.
Brent Crude jumped to $95.29 per barrel, while WTI Crude climbed to $88.77, showing intraday gain of nearly $5 for both benchmarks. Currency markets also reacted swiftly. The euro fell 0.3% to $1.1735, while the Japanese yen eased about 0.2% to 158.95 per dollar, as investors moved back toward safer assets amid rising geopolitical uncertainty.
