Gold price decreases by Rs12,627 per tola in Pakistan 

Karachi (Web Desk): Gold and silver prices experienced a substantial downturn across both local and international markets on Wednesday, reflecting a broad decline in precious metal valuations.

According to figures released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola dropped sharply by Rs12,627, settling at Rs442,436 compared to Rs455,063 in the previous session.

The rate of 24-karat gold for 10 grams also registered a significant decrease of Rs11,364, falling to Rs378,170 from Rs389,534.

Likewise, 10 grams of 22-karat gold became cheaper by Rs10,277, bringing the price down to Rs346,948 from the earlier rate of Rs357,225.

The international bullion market mirrored the same trend, with gold losing $126.27 per ounce to close at $4,200, down from $4,326.27 recorded a day earlier.

Silver prices also moved lower in the domestic market. The price of silver per tola declined by Rs385, reaching Rs6,929 against the previous rate of Rs7,314.

Meanwhile, the cost of 10 grams of silver fell by Rs352 to Rs5,893 from Rs6,245.

Globally, silver also remained under pressure, with its price slipping by $3.852 per ounce to $64.500, compared with the earlier level of $68.352 per ounce.