Gold and silver prices declined in both international and domestic markets on Wednesday, with the global gold price dropping by $52 to $3,972 per ounce, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). In the local market, the price of gold per tola fell by Rs5,200 to Rs419,636, while 10 grams of gold decreased by Rs4,458 to Rs359,770. Silver also saw losses, with per tola dropping Rs107 to Rs6,242 and 10 grams falling Rs92 to Rs5,351.
Previous Day's Trends
On Tuesday, gold prices had also declined in both international and local markets, while silver registered an increase. International gold fell by $41 per ounce to $4,024. Domestically, gold per tola declined by Rs4,100 to Rs424,836, and 10 grams decreased by Rs3,515 to Rs364,228. Silver per tola rose by Rs25 to Rs6,349, and 10 grams increased by Rs22 to Rs5,443.
Monday's Decline Amid US-Iran Tensions
On Monday, gold prices declined locally, tracking international losses as fresh US-Iran tensions boosted oil prices and stoked inflation fears, raising expectations of higher interest rates. In the local market, gold per tola stood at Rs428,936 after a drop of Rs2,300, while 10 grams sold for Rs367,743 after falling by Rs1,972. Silver decreased by Rs69 to Rs6,324 per tola.
Saturday's Closing
On Saturday, per-tola gold had closed at Rs431,236 following a decline of Rs1,000.
