KARACHI: Gold prices have witnessed a significant decline in both international and local markets on Saturday.
In the global bullion market, the price of per ounce gold decreased by $91, bringing it down to $4,083.
This international drop directly impacted the local market, where the price of gold per tola saw a notable reduction of Rs9,100, bringing it to Rs430,662.
Furthermore, the price of gold per 10 grams also experienced a decrease, falling by Rs7,799 to reach Rs369,223.
Meanwhile, oil prices settled more than two percent higher on Friday as Russia’s port of Novorossiisk halted oil exports following a Ukrainian drone attack that hit an oil depot in the Russian energy hub, stoking supply concerns.
Brent crude futures settled up $1.38, or 2.19%, at $64.39 a barrel, while U.S. West Texas Intermediate crude settled up $1.40, or 2.39%, at $60.09 a barrel.
