Gold price drops to Rs434,436 after major decline in Pakistan
Gold price drops sharply in local market
Gold price in Pakistan fell by Rs3,100 per tola, bringing the new price to Rs434,436. The decline followed a fall in gold prices in the international market.
The price of 10 grams of gold also decreased by Rs2,658. After the latest reduction, 10 grams of gold is now priced at Rs372,458.
Global gold prices also fall
In the international bullion market, gold prices dropped by $31 per ounce. The price reached $4,119 per ounce after the latest decline.
The fall in international gold prices also affected rates in local bullion markets. Traders and consumers are now seeing lower gold prices compared with the previous rates.
Silver prices decline in Pakistan
The price of silver also decreased in the local market. The rate of silver fell by Rs100 per tola to Rs6,488.
The price of 10 grams of silver dropped by Rs86 to Rs5,562. The decline was recorded alongside the fall in gold prices.
Global silver rate also falls
In the international market, silver prices decreased by $1 per ounce. The new international rate reached $60.10 per ounce.
The latest movement shows that both gold and silver prices declined in local and global markets. Changes in international bullion rates continue to influence precious metal prices in Pakistan.
The latest drop provides some relief to buyers as gold and silver prices have moved lower. However, local rates can continue to change with movements in international markets.
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