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Gold Prices Decline for Second Consecutive Day

Despite the drop in gold prices, silver prices remained stable

Gold prices in Pakistan continued to decline for the second consecutive day, influenced by movements in the international bullion market.

On Tuesday, January 14, 2025, gold prices in the international bullion market fell by $14 per ounce, settling at $2,661, (including a $20 premium), marking a $14 decrease from the previous day.

This downward trend has also affected local markets, where the price of 24-carat gold dropped by Rs1,400 per tola, reaching Rs277,900. The price for 10 grams of gold decreased by Rs1,201, bringing it to Rs238,254.

This follows a Rs1,500 per tola decrease on Monday, bringing the price to Rs279,300.

Despite the drop in gold prices, silver prices remained stable, with one tola priced at Rs3,350 and the price for 10 grams unchanged at Rs2,872.08.

Analysts attribute the decline in gold prices to fluctuations in global bond yields and the strengthening of the US dollar, which typically dampens demand for gold as a safe-haven asset.

Market participants are closely watching upcoming US economic data releases, including inflation figures, which could significantly impact monetary policy and thus influence gold prices in the near future.

 

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