ISLAMABAD: Gold prices witnessed another sharp decline as both international and local markets recorded a second consecutive day of decline.
In the international bullion market, gold fell $23 to settle at $3,240 per ounce, reflecting increasing volatility in global precious metal markets.
The downward trend was mirrored in Pakistan’s local market, where the price of 24-karat gold per tola fell by Rs2,300 to Rs342,200. Similarly, the price of 10 grams of 24-karat gold fell by Rs1,972 to Rs293,381.
Silver prices also followed suit. The price of silver per tola fell by Rs45 to Rs3,382, while the price of 10 grams of silver fell by Rs39 to Rs2,899.
It is worth noting that just a day ago, the price of gold per tola in the local market had already fallen by Rs. 1,300, taking the total two-day decline to Rs. 3,600.
Market analysts attribute the continued decline in gold prices to changes in investor sentiment, fluctuations in the dollar, and speculation about interest rate policies in global economies.
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