Summary
- According to market data, the price of gold in the international bullion market declined by $14 per ounce, settling at $4,453 per ounce.
- The price of 24-karat gold per tola in the domestic market fell by Rs1,469, bringing it down to Rs467,816.
- The price of silver per tola in the local market dropped by Rs67, settling at Rs7,730.
Gold prices moved lower in both international and domestic markets on Thursday, reflecting a weakening trend in global bullion trading and providing some relief to buyers after recent gains.
According to market data, the price of gold in the international bullion market declined by $14 per ounce, settling at $4,453 per ounce. The drop in global prices was mirrored in Pakistan’s local gold market, where rates registered a significant decline.
The price of 24-karat gold per tola in the domestic market fell by Rs1,469, bringing it down to Rs467,816. Similarly, the rate for 10 grams of gold decreased by Rs1,197, reaching Rs401,012.
Market analysts attributed the decline to fluctuations in international commodity markets, where investor sentiment and movements in the US dollar continue to influence precious metal prices. Changes in global economic expectations and profit-taking by investors also contributed to the downward trend.
Meanwhile, silver prices also remained under pressure. The price of silver per tola in the local market dropped by Rs67, settling at Rs7,730.
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