Gold prices in Pakistan registered a significant decrease on Thursday as international bullion rates continued their downward trend. The sharp fall in global gold prices was reflected in the domestic market, leading to a substantial reduction in local rates.
According to the latest market figures, the price of gold per tola in Pakistan dropped by Rs9,720, bringing the new rate to Rs432,716. Likewise, the price of 10 grams of gold fell by Rs8,748 and settled at Rs369,422.
The latest decline follows a major drop recorded in the previous trading session. On Wednesday, gold prices had already suffered heavy losses, with the per-tola rate decreasing by Rs12,627 to close at Rs442,436. The consecutive declines indicate ongoing pressure on the precious metal in both international and local markets.
In the global bullion market, gold prices also moved lower. The international price of gold fell by $97 per ounce, reaching $4,102 per ounce, including a premium of $20. Analysts believe that fluctuations in global economic conditions and investor sentiment continue to influence gold prices worldwide.
Silver prices also experienced a slight decline in Pakistan. The price of silver per tola decreased by Rs40, bringing the new rate to Rs6,889. Although the drop in silver was relatively modest compared to gold, it reflected the broader weakness seen in precious metals markets.
Market observers noted that international bullion trends play a key role in determining gold and silver prices in Pakistan. As global rates fluctuate, local markets often respond accordingly, resulting in sudden increases or decreases in prices.
The latest reduction in gold prices offers some relief to buyers and investors who closely monitor market movements. However, analysts caution that continued volatility in international bullion markets may lead to further price fluctuations in the coming days, making future trends difficult to predict with certainty
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