Gold prices dip as US-China trade talks influence markets

Price of 24-carat gold per tola drops by Rs1,600

The expected reduction in tariffs between the US and China, combined with declining global demand, has led to a renewed downward trend in gold prices.

In the international bullion market, the price of gold fell by $16 per ounce to reach $4,002, which also impacted local markets.

On Saturday, the price of 24-carat gold per tola dropped by Rs1,600 to Rs422,562, while the price per 10 grams fell by Rs1,372 to Rs362,278.

Read: Gold shines again as global prices surge $53 per ounce

Similarly, the price of silver per tola decreased by Rs65 to Rs5,127, and the price per 10 grams fell by Rs56 to Rs4,395.

On October 31, spot gold fell 0.6% to $4,001.74 per ounce at 1:49 pm ET (1749 GMT) and was on track for a 3.7% gain this month.

Elsewhere, spot silver fell 0.4% to $48.73 per ounce, platinum lost 1.7% to $1,583.41, and palladium fell 0.4% to $1,440.02.