The price of gold witnessed a decline in the local market on Saturday, with 24 karat gold per tola decreasing by Rs1,000 to settle at Rs431,236, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association (APGSJA). Similarly, the price of 10 grams of 24 karat gold fell by Rs730 to Rs369,715, whereas 10 grams of 22 karat gold declined by Rs669 to Rs338,917.
International Gold Market
In the international market, the price of gold decreased by $10 to $4,088 per ounce. The association reported that global trends continue to influence local rates, reflecting a synchronized movement across markets.
Silver Prices Drop
Meanwhile, the price of silver per tola decreased by Rs271 to Rs6,393, while the price of 10 grams of silver fell by Rs161 to Rs5,480. The price of silver in the international market also decreased by $2.71 to $59.14 per ounce, the association reported.
Market Context
The decline in precious metal prices comes amid global economic uncertainties and currency fluctuations. Analysts suggest that the downward trend may be temporary, with potential for recovery based on international demand and geopolitical factors.
