Web desk: After a record surge in both international and local markets, gold prices saw a decline today. Jewelers and trading circles reported that the drop in global gold rates has directly impacted Pakistan’s bullion market.
According to sources, the price of gold in the local market decreased by PKR 3,200 per tola, bringing it to PKR 523,762. Meanwhile, the price of 10 grams of gold fell by PKR 2,743 to PKR 449,041. In the international market, gold dropped by $32, reaching $5,010 per ounce.
Silver prices also followed the downward trend. After a rise the previous day, the price of silver per tola decreased by PKR 55, settling at PKR 8,164.
Experts attribute these fluctuations to global trading activities and movements in the Pakistani rupee against the US dollar. Additionally, changes in local supply and demand have contributed to the recent price decline.
Traders in bullion markets noted that the downward trend in gold prices could continue over the next few days. They advised consumers and investors to monitor market conditions closely before making any purchases or investments.
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