Gold Prices Register Sharp Decline Across Local and International Markets
KARACHI: The local precious metal markets and the international trading markets both saw significant declines in the price of precious metals on Monday, continuing the trend of falling prices.
The All Pakistan Sarafa Association has announced the price of 24 karat gold at Rs 463,136 per tola, down Rs 2,400 from the previous rate. The price of 10 grams 24-karat gold also dropped by Rs 2,058 to Rs 397,064. Domestic silver prices too declined as the global market dips.
The price of per tola silver fell by Rs 39, bringing the price down to Rs 7059. International markets also saw bearish action on the global front. Spot gold in the international market fell $24 per ounce, bringing it down to $4,406 on the international market.
Market analysts say that the local bullion rates remain in constant adjustment in accordance with the fluctuations in the international market of the world and the global indicators.