KARACHI: Gold prices ended on a negative note this week as the price fell further amid a downward trend in the international bullion market on June 28.
On Saturday, the All Pakistan Gems and Jewellers Sarafa Association (APGJSA) said that the price of gold per tola fell by Rs 1,600 to Rs 349,400. Similarly, the price of 10 grams of gold fell by Rs 1,371 to Rs 299,554.
This was followed by a major decline in gold recently, when the price of gold per tola fell by Rs 5,000, closing the day at Rs 351,000.
Globally, gold prices also fell by $ 16 to $ 3,274 per ounce amid cautious sentiment among investors. Meanwhile, silver prices remained stable, with the price of one tola unchanged at Rs 3,782.
The recent decline comes amid shifting global economic indicators and a strong US dollar, which often negatively impacts bullion prices. Local jewelers suggest that market volatility could continue in the short term, depending on global economic trends and currency movements.