Gold prices moved lower in Pakistan on Thursday as the precious metal also recorded a decline in international markets. The latest movement brought the local gold rate slightly down after its previous day’s increase.
The price of gold per tola fell by Rs600 to reach Rs462,336 in the local market. Meanwhile, the 10-gram gold price declined by Rs515, settling at Rs396,378.
The latest rates were shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Gold Price Declines After Previous Day’s Gain
The latest decline followed a rise recorded in the local market on Wednesday. Gold had gained Rs800 per tola during the previous session, reaching Rs462,936.
However, the direction changed on Thursday as gold prices fell both locally and internationally.
In the international market, gold declined by $6, bringing the price to $4,398 per ounce. The global movement was reflected in Pakistan’s local bullion market.
Silver Prices Also Fall
Silver prices also recorded a decline in the local market on Thursday. The price of silver decreased by Rs17 per tola, reaching Rs7,124.
Therefore, both gold and silver ended the day lower in Pakistan, while international gold prices also moved down.
For local buyers and sellers, the latest figures reflect the day’s movement in the bullion market after gold posted a gain during the previous session.
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