ISLAMABAD: Gold prices recorded a sharp decline in both international and local markets, with the price of gold falling by $128 per ounce in the global bullion market and by Rs12,800 per tola in Pakistan.
According to market data, the international price of gold declined to $4,156 per ounce from its previous level, registering a substantial drop in a single trading session.
The decline in international bullion prices was reflected in Pakistan’s local market, where the price of gold fell by Rs12,800 per tola to Rs438,136.
The price of 10 grams of gold also declined by Rs10,973, reaching Rs375,631.
The sharp movement in international gold prices translated into significant changes in the domestic bullion market, where prices are closely linked to global bullion rates and currency movements.
The decline also extended to silver, with the price of silver falling by Rs325 per tola to Rs6,578.
Similarly, the price of 10 grams of silver decreased by Rs279 to Rs5,639.
The latest decline provides some relief to consumers and investors following the elevated levels witnessed in precious-metal prices. However, gold and silver prices can remain volatile as international bullion markets respond to changes in global financial and economic conditions.
Market participants continue to closely monitor international bullion prices as movements in the global market directly influence domestic precious-metal prices in Pakistan.