The price of gold witnessed a decline in the local market on Saturday, with 24 karat gold per tola decreasing by Rs1,100 to settle at Rs439,836, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association. Similarly, the price of 10 grams of 24 karat gold fell by Rs943 to Rs377,088, whereas 10 grams of 22 karat gold declined by Rs865 to Rs345,676.
International Gold and Silver Markets
In the international market, the price of gold decreased by $11 to $4,174 per ounce. Meanwhile, the price of silver per tola decreased by Rs48 to Rs6,716, while the price of 10 grams of silver fell by Rs42 to Rs5,757. The price of silver in the international market also decreased by $0.48 to $62.37 per ounce, the association reported.
Impact on Local Economy
The decline in precious metal prices comes amid global economic uncertainties. Analysts suggest that fluctuations in international markets directly influence local rates, affecting investors and jewelry buyers. The association continues to monitor market trends and provide daily updates.
