KARACHI – Gold prices have experienced a decline in both the global and local markets a day after it registered an upward trend.
Data shared by All Pakistan Gems and Jewellers Association showed the price of 24-karat gold per tola has decreased by Rs1,000, now standing at Rs418,862.
Similarly, the price of 10 grams of gold has dropped by Rs857, bringing it down to Rs359,106.
In contrast, the price of silver has remained unchanged at Rs5,034 per tola.
On the global front, the price of gold has fallen by $10 per ounce, now trading at $3,965.
This fluctuation in gold prices reflects the ongoing volatility in the international precious metals market, affecting both local and global economies.
The decline in gold prices comes following a positive outcome of a meeting between US President Donald Trump and Chinese President Xi Jinping.
Following the meeting, Trump said tariffs imposed on Chinese imports would be reduced to 47% from 57% by halving the rate of tariffs related to trade in fentanyl precursor drugs to 10% from 20%.
A day earlier, per tola gold priced surged by Rs3,500 with new rate hitting Rs419,862. Similarly, the price of 10-gram moved up by Rs3,000 to settle at Rs359,963.
