Gold Prices Register Decline in Global and Local Markets After Continuous Rallies
KARACHI:The bullion markets have broken their recent run of higher prices, with gold prices seeing a significant drop in global and local markets.
The price of 24 karat gold per tola fell by Rs3,500, to Rs460,436, according to the All Pakistan Sarafa Gems and Jewellers Association. The gold price for 10 gram of it also fell Rs3,001 to reach Rs394,749.
Even after this correction, the price of gold had jumped by a huge Rs36,000 in the past seven days of the market, as per the data. In the meantime, silver prices also dipped, down by Rs175 per tola at Rs6,936.
Internationally, gold prices in spots fell $35 an ounce and the world rate fell to $4,380 per ounce.