KARACHI – Gold witnessed a decline in domestic market of Pakistan on Thursday a day after it registered significant increase following the tentative ceasefire between the US and Iran.
Data shared by All Pakistan Gems and Jewellers Association showed per tola gold price plunged by Rs9,500 to reach Rs494,662.
Similarly, the price of 10-gram fell by Rs8,145 with new rate settling at Rs424,090.
The precious commodity also shed value in international bullion market where per ounce rate decreased by $95 to reach $4,723.
A day earlier, per tola price of gold surged by Rs15,700 to reach 504,162.
In international market, the price of the precious commodity moved up by $157 with per ounce rate climbing to $4,814.
On the other hand, global energy markets witnessed another uptick on Thursday as crude oil prices jumped due to supply concerns and shifting economic indicators, as Israel jeopardized the ceasefire by killing hundreds in Lebanon.
WTI Crude goes up by 3.01% increase to settle at $97.25. Brent Crude followed suit with a solid 2.08% gain, reflecting a broad bullish sentiment across the Atlantic. Gasoline rose nearly 1% to $3.032, while Natural Gas remained largely flat, edging up a marginal 0.04%.
