KARACHI – Gold prices witnessed a sharp decline on Tuesday in Pakistan a day after it saw a slight jump amid uncertainty over US-Iran talks.
Data shared by All Pakistan Gems and Jewellers Association showed per tola price plunged by Rs8,900, bringing new rate to Rs485,062.
Similarly, the price of 10-gram fell by Rs7,630 with new rate settling at Rs415,862.
In international bullion market, the price of per ounce gold decreased by $89 as latest rate hovered at $4,627.
Silver prices in Pakistan also recorded a decline with per tola rate settling at Rs7,811 after a dip of Rs38.
Meanwhile, Brent crude oil surged past in global markets, climbing above $109.40 per barrel for the first time in recent weeks, market data shows amid no breakthrough in US and Iran over opening of Hormuz and nuclear deadlock.
July Brent futures jumped as much as 3.66%, touching $109.18 per barrel before slightly cooling off to around $109.13. Even after easing, the benchmark still held strong gains of about 3.61%, signaling sustained bullish momentum.
