Karachi (HRNW)- Gold prices witnessed a significant increase in both international and local bullion markets on Monday, continuing an upward trend for the third consecutive trading session.
According to market reports, developments including the reported peace agreement between the United States and Iran, the announcement regarding the lifting of the US naval blockade, and a 4 percent decline in global oil prices have influenced precious metals markets, contributing to higher gold and silver prices worldwide.
In the international bullion market, the price of gold increased by $108 per ounce, reaching $4,327 per ounce.
Reflecting the global trend, local bullion markets also recorded a substantial rise. The price of 24-carat gold per tola increased by Rs10,800, reaching Rs455,136, while the price of 10 grams of gold rose by Rs9,720 to Rs389,600.
Silver prices also moved upward. In the international market, silver gained $2.30 per ounce, reaching $70.30 per ounce.
As a result, in local markets, the price of silver per tola increased by Rs230 to Rs7,509, while the price of 10 grams of silver rose by Rs197 to Rs6,396.
Market analysts say investors continue to monitor global economic developments, geopolitical events, energy markets, and monetary policies, all of which can significantly influence the prices of precious metals.
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