Gold price decreases by Rs8,600per tola in Pakistan

Karachi (Web Desk): Gold prices recorded a notable drop in Pakistan's local bullion market on Wednesday, mirroring a downward trend in international markets.

According to figures released by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by Rs8,600, settling at Rs467,762 compared to Rs476,362 a day earlier.

The rate of 10 grams of 24-karat gold also moved lower, decreasing by Rs7,373 to Rs401,030 from the previous price of Rs408,403.

Likewise, 10 grams of 22-karat gold declined by Rs6,759, reaching Rs367,624 against Rs374,383 recorded in the last trading session.

In the global market, gold prices dropped by $86 per ounce, with the precious metal trading at $4,454 compared to $4,540 previously.

Silver prices also followed the downward trend. The price of silver per tola fell by Rs259 to Rs7,894, while the rate for 10 grams of silver decreased by Rs222 to Rs6,767.

On the international market, silver prices slipped by $2.59 per ounce, closing at $74.10, according to the association.