After a noticeable decline in gold prices a day earlier, the downward trend continued today in both local and international markets, reflecting cautious sentiment among investors and buyers.
According to a report by the All Pakistan Gems and Jewellers Association, gold prices fell further on Wednesday, the third business day of the week, pushing prices in both domestic and global markets below their recent peak levels.
The report stated that the price of one tola of 24-karat gold in the local market declined by Rs2,500, bringing the per tola rate down to Rs456,962.
Similarly, the price of 10 grams of gold also recorded a significant decrease, falling by Rs2,143 to settle at Rs391,772.
In the international market, gold prices also remained under pressure, with the price per ounce declining by $25 to reach $4,346.
Silver prices in the local market also saw a downward movement, with the price per tola dropping by Rs212 to Rs7,718, while the price of 10 grams of silver declined by Rs182 to Rs6,616.
It is worth recalling that on the previous business day, Tuesday, gold prices in the local market had dropped sharply by Rs10,700 per tola, while in the global market, gold prices fell by $107 per ounce.
