KARACHI: Gold and silver prices continued their downward trend on Thursday, recording significant declines in both international and local bullion markets.
Following the decline in global prices, the local bullion market also witnessed a sharp decrease in gold rates. The price of 24-karat gold per tola dropped by Rs9,720, settling at Rs432,716 per tola.
Similarly, the price of 10 grams of 24-karat gold decreased by Rs8,748, reaching Rs369,422.
Silver prices also moved lower in the domestic market. The price of silver per tola fell by Rs40, bringing the new rate to Rs6,889.
According to market data, the price of gold in the international bullion market fell by $97 per ounce, bringing the new rate down to $4,102 per ounce.
Bullion traders attributed the decline in local gold prices to the downward movement in international markets, which directly influences domestic rates.
Market analysts say investors are closely monitoring global economic developments, currency movements, and interest rate expectations, all of which continue to impact precious metal prices worldwide.
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