ISLAMABAD – Gold and silver prices witnessed a significant decline in both international and domestic markets, with gold recording a particularly sharp drop in the global bullion market.
In the international market, the price of gold fell by $109 per ounce to reach $3,940, triggering a substantial decline in local gold rates.
Following the decline, the price of gold per tola in Pakistan dropped by Rs10,900 to settle at Rs416,536. Similarly, the price of 10 grams of gold decreased by Rs9,345 to Rs357,112.
Silver prices also moved downward in the domestic market. The price of silver per tola declined by Rs190 to Rs5,578, while the rate for 10 grams fell by Rs163 to Rs4,782.
Previous Market Performance
A day earlier, international gold prices had already recorded a decline of $34 per ounce, bringing the rate to $4,049.
The downward trend also affected Pakistan’s local bullion markets on Wednesday, where gold prices per tola decreased by Rs3,400 to Rs427,436.
The price of 10 grams of gold also dropped by Rs2,915, reaching Rs366,457.
However, silver moved in the opposite direction in the international market during the previous trading session. Its price increased by 45 cents per ounce to reach $52.90.
Reflecting the international increase, domestic silver prices also rose. The price per tola increased by Rs45 to Rs5,768, while the rate for 10 grams went up by Rs39 to Rs4,945.
