ISLAMABAD (Kashmir English): Gold prices continue to decline in the global market, where spot gold has reached a one-week low after a decline of 0.4%.
According to experts, while oil prices have increased due to the increasing tension between the United States and Iran, on the one hand, uncertainty has arisen in the financial markets, which has once again drawn the attention of investors to concerns about inflation and interest rate hikes.
On Thursday, the price of spot gold in the global market fell by 0.4% to $4,060.46 per ounce, while the price of US gold futures was also recorded at $4,069.80 per ounce after a decline of 0.3%.
According to reports, the market has been affected by the increasing tension in the region and the tightening of US monetary policy. Keeping this in mind, Bank of America has also reduced its estimate of the average price of gold for the year 2026 to $4,360 per ounce.
Situation of silver and other precious metals
On the other hand, a downward trend was also seen in the prices of silver, and its price has come down to $57.77 per ounce after a decrease of 0.9%, while, on the contrary, a slight increase has been recorded in the prices of platinum and palladium.
After this major upheaval in the global market, the possibilities of a significant decline in gold prices have become clear in the local bullion markets of Pakistan as well.
