Karachi: The downward trend in gold and silver prices continues in Pakistan, reflecting fluctuations in both local and international markets. Gold became cheaper by Rs8,700 on Saturday, bringing the price to Rs524,562 per tola.
According to Sarafa Association, the price of 10 grams of gold dropped by Rs7,459 to Rs449,727. Meanwhile, the price of silver per tola decreased by Rs310, reaching Rs8,541.
Globally, gold prices also fell, with the price per ounce dropping by $87 to $8,018. Analysts say this local decline mirrors the international trend, and over the past three days, the price of gold per tola has decreased by a total of Rs18,700, giving potential buyers a chance to enter the market at lower rates.
Gold and silver prices in Pakistan are influenced by international rates, currency fluctuations, and local demand. Recently, a combination of lower global gold prices and the strengthening of the Pakistani rupee has contributed to this consistent drop in domestic rates.
Also Read: Gold prices drop for second consecutive day
