Gold Prices Decline in Global and Pakistani Markets as International Rates Fall
According to market reports, the price of gold in the international bullion market fell by $24 per ounce, bringing it down to $4,150 per ounce.
Following the global decline, gold prices in Pakistan also registered a significant decrease. The price of 24-karat gold per tola dropped by Rs2,400, settling at Rs437,436.
Similarly, the price of 10 grams of gold fell by Rs2,058, reaching Rs375,030 in the local bullion market.
Silver prices also witnessed a downward trend. In the international market, silver declined by 37 cents per ounce to $62 per ounce. Consequently, in Pakistan's local market, the price of silver per tola decreased by Rs37 to Rs6,679, while the price of 10 grams of silver fell by Rs31 to Rs5,726.
Bullion market analysts attribute the decline to fluctuations in international precious metals prices, which continue to influence domestic gold and silver rates.