LAHORE: A significant decline in gold and silver prices has been recorded in global and local markets.
The effects of the decline in gold prices in the global market were also directly seen in Pakistan’s local bullion market, where both gold and silver rates decreased.
According to data released by the All Pakistan Bullion Gems and Jewelers Association, the price of 24-carat gold per tola decreased by Rs 1,000, after which the new price was set at Rs 431,236.
Similarly, 24-carat 10 grams of gold became cheaper by Rs 730 to reach Rs 369,715.
On the other hand, there was also a significant decline in the price of silver. According to the association, the price of 24-karat silver per tola fell by Rs 271 to Rs 6,393, which will also provide relief to those buying silver jewelry and other products.
The trend of declining gold prices continued in the international market. After falling by $ 10 per ounce in the global market, gold fell to $ 4,088, which put pressure on prices in the local market as well.
Economic experts say that the global economic situation, the value of the US dollar, central bank policies and investor trends directly affect gold prices. If the same trend continues in the global market, further changes in gold and silver prices may be seen in the local market in the coming days.
