Gold prices in Pakistan extended their losing streak on Wednesday, marking the fourth consecutive daily decline, while international gold prices also moved lower.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by Rs4,700 to Rs430,236.
The price of 10 grams of gold also declined by Rs4,029, settling at Rs368,858.
The latest drop follows Tuesday’s decline, when gold prices fell by Rs2,500 to close at Rs434,936 per tola.
In the international market, gold prices dropped by $47, settling at $4,087 per ounce.
Silver prices also moved lower on Wednesday. The price of silver per tola decreased by Rs138, closing at Rs6,421.
The decline comes as global markets continue to react to shifting geopolitical developments, including renewed tensions between the United States and Iran following the collapse of their recent ceasefire agreement.
Also read: Huge Drop in Gold Prices in Pakistan
