Gold prices in Pakistan continue to fall for second consecutive day
Business
The downward trend in global markets directly impacted local prices, leading to notable reductions across domestic bullion markets.
KARACHI (Dunya News) - Gold prices in Pakistan recorded a decline for the second straight day on Wednesday, following a drop in the international bullion market.
According to market reports, the global price of gold fell by $10 per ounce, bringing the new international rate down to $4,208 per ounce. The downward trend in global markets directly impacted local prices, leading to notable reductions across domestic bullion markets.
In Karachi and other major cities, the price of 24-karat gold per tola dropped by Rs1,000, settling at Rs443,162. Similarly, the price of 10 grams of 24-karat gold decreased by Rs858, reaching Rs379,939.
However, in contrast to gold’s declining trend, silver prices saw an upward movement. The rate of per tola silver increased by Rs81, rising to Rs6,085, while 10 grams of silver went up by Rs69, reaching Rs5,216.
Traders say fluctuations in international gold prices, combined with local market dynamics and currency movements, are contributing to the ongoing volatility. The recent decline offers slight relief to potential buyers but continues to reflect the broader instability in the global bullion market.
