Gold Prices Fall Sharply, Bringing Relief for Buyers
KARACHI: Gold and silver prices witnessed a significant decline in both international and local markets, providing relief to consumers and investors.
According to market reports, the international price of gold fell by $86 per ounce, bringing it down to $4,454 per ounce.
In the local bullion market, the price of gold per tola dropped by Rs8,600 to Rs467,762. Similarly, the price of 10 grams of gold decreased by Rs7,373, settling at Rs411,030.
Silver prices also recorded a notable decline. The price of silver per tola fell by Rs259, reaching Rs7,894.
The latest decrease comes a day after gold prices had surged in the domestic market. On the previous trading day, the price of gold per tola had increased by Rs4,600, reaching Rs476,362. Likewise, the price of 10 grams of gold had risen by Rs3,944 to Rs408,403, while silver prices had also moved higher.
Market analysts attribute the fluctuation in precious metal prices to changing trends in the global market and shifts in investor sentiment.
