KARACHI: Gold prices in Pakistan declined on Tuesday, August 25, in line with a downward trend in international bullion prices amid continued geopolitical uncertainty.
According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold fell by Rs600 per tola to Rs486,536.
The price of 24-karat gold per 10 grams also decreased by Rs514 to Rs417,126.
In the international market, gold prices declined by $6 per ounce to $4,640, according to the association.
Silver Prices
Silver prices in the local market fell by Rs100 to Rs7,279 per tola.
Geopolitical Uncertainty
Investors continued to closely monitor developments in the Middle East amid ongoing tensions and diplomatic efforts aimed at achieving a lasting resolution to the conflict in the Gulf.
BEIJING: China said on Tuesday that it would safeguard its interests after Washington outlined plans aimed at the “economic asphyxiation” of Beijing’s economic partner, Iran.
Read Also: China says will ‘safeguard own interests’ after US vows Iran sanctions
Almost six months into its war with Iran, the United States imposed new penalties on several entities, including those in China, and expanded threats of secondary sanctions. Washington also urged governments worldwide to join its economic campaign.
China has advocated for a ceasefire and maintained that US sanctions will not resolve the conflict.
“Cooperation between China and Iran has always been conducted within the framework of international law and should not be interfered with or disrupted,” Chinese Foreign Ministry spokesman Lin Jian said at a regular news briefing on Tuesday.
