KARACHI – Gold prices recorded another sharp decline on Wednesday in both international and local markets after a brief pause in the downward trend.
In the international bullion market, the price of gold fell by $126.27 per ounce, bringing it down to $4,200 per ounce.
Following the global trend, local bullion markets also witnessed a significant drop in gold prices. The price of 24-karat gold per tola decreased by Rs12,627, settling at Rs442,436.
Similarly, the price of 10 grams of gold dropped by Rs11,364 to Rs378,170.
Silver prices also declined in the local market. The price of silver per tola fell by Rs385 to Rs6,929, while the rate for 10 grams of silver decreased by Rs352 to Rs5,893.
The latest decline follows a series of losses in recent trading sessions. On June 6, gold prices dropped by $124 per ounce in the international market and by Rs12,489 per tola locally. On the first business day of the current week, gold prices fell by another $30.94 per ounce globally and Rs3,094 per tola in the domestic market.
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