Gold and silver prices declined noticeably in both international and domestic markets on Wednesday as weaker global bullion rates weighed on precious metal values.
In the international market, gold prices dropped by $52 per ounce, bringing the rate down to $3,972. The downward movement was mirrored in Pakistan, where the price of 24-karat gold fell by Rs5,200 per tola to Rs419,636. The price of 10 grams of the precious metal also decreased by Rs4,458, settling at Rs359,770.
Silver also registered losses in the local bullion market. The price per tola declined by Rs107 to Rs6,242, while the rate for 10 grams fell by Rs92 to Rs5,351.
The decline in domestic prices reflects the continued influence of fluctuations in international bullion markets on Pakistan’s precious metals trade.