Gold prices in the international market have recorded another significant decline, continuing the downward trend seen in recent sessions.
According to market data, gold fell by $172 per ounce, bringing its price down to $4,721 per ounce. During trading, the precious metal lost more than 3 percent of its value, reflecting strong selling pressure in global markets.
Oil Prices Also Record Decline
Alongside gold, global oil prices also moved lower. Crude oil prices dropped by up to 4 percent during trading.
-
Brent crude is currently trading at around $67 per barrel
-
WTI crude oil is priced near $63 per barrel
Market Volatility Continues
Analysts attribute the decline in commodity prices to global economic uncertainty, changing interest rate expectations, and shifting investor sentiment. Volatility in international markets continues to influence precious metals and energy prices.
Impact on Local Markets Expected
The sharp fall in global gold prices may impact local bullion rates, while lower oil prices could influence fuel costs and inflation trends in the coming days.
