KARACHI: Gold and silver prices declined in both international and local markets on Wednesday, with gold prices coming under pressure after a fall in global bullion rates.
In the international bullion market, the price of gold fell by $31 per ounce to $4,119.
According to rates released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold in Pakistan declined by Rs3,100 per tola to Rs434,436.
The price of 10-gram gold also decreased by Rs2,658, reaching Rs372,458.
Silver prices also decline
Silver prices also moved lower in the local market.
The price of silver fell by Rs100 per tola to Rs6,488, while the price of 10-gram silver decreased by Rs86 to Rs5,562.
The latest decline follows fluctuations in precious metal prices over the past several trading sessions.
On Tuesday, gold prices in Pakistan remained unchanged at Rs437,536 per tola, despite an increase in international bullion prices. The price of 10-gram gold stood at Rs375,116, while silver remained unchanged at Rs6,588 per tola.
Gold Hits $5,185 an Ounce as Local Rates Climb
Gold prices fluctuate during the week
On Monday, gold prices in the local market increased by Rs1,200 per tola to Rs437,536, while the price of 10-gram gold rose by Rs1,029 to Rs375,116.
Silver also gained Rs66 per tola on Monday, reaching Rs6,588 and marking a new all-time high at the time.
The market had also recorded a decline on Saturday. According to APGJSA data, gold fell by Rs4,300 per tola to Rs436,336, while the price of 10-gram gold dropped by Rs3,687 to Rs374,087.
Silver prices decreased by Rs56 per tola to Rs6,522, while the price of 10-gram silver fell by Rs48 to Rs5,591.
The latest movements highlight continued volatility in precious metals, with domestic prices influenced by international bullion rates and other market factors.
