KARACHI: Gold prices continued to decline in both the international and local markets today, making the precious metal even cheaper.
In the international bullion market, the price of gold per ounce dropped by 17 dollars, bringing the new global price down to 4,235 dollars per ounce.
Similarly, on the very first business day of the week, the impact of the international market was visible in local gold markets. The price of 24-karat gold per tola fell by 1,400 rupees, setting the new price at 444,900 rupees per tola.
The price of 10 grams of gold also decreased by 1,200 rupees in the local market, bringing it to 381,430 rupees per 10 grams.
It is worth noting that on Saturday, gold prices experienced a sharp decline in both global and domestic markets when the metal fell by 106 dollars per ounce to 4,252 dollars, causing a 10,600 rupee drop per tola locally to 446,300 rupees.
A day before this sharp fall, on Friday, gold recorded its biggest-ever single-day increase. It rose by 141 dollars per ounce globally and by 14,100 rupees per tola locally, reaching an all-time high of 456,900 rupees
