The declining trend in precious metal prices in international financial markets has also affected local bullion markets in Pakistan, resulting in a noticeable decrease in gold and silver prices.
According to reports, the price of gold in the international bullion market dropped by 4 dollars per ounce, bringing the new rate down to 4,713 dollars per ounce, with immediate effects seen in the local market.
In local bullion markets, the price of gold per tola fell by Rs 400 on Saturday, taking the new rate to Rs 493,662.
Similarly, the price of 10 grams of gold declined by Rs 343 to Rs 423,235.
Bullion experts say that reduced global demand, changing investment trends, and economic uncertainty are among the key reasons behind the decline in gold prices.
Meanwhile, silver prices also remained under pressure in the international market, where the price per ounce declined by 12 cents to $80.29.
The impact was also reflected in local markets, where the price of silver per tola decreased by Rs 12 to Rs 8,513, while the price of 10 grams of silver dropped by Rs 10 to Rs 7,298.
Experts believe that fluctuations in the global economy, changes in the value of the dollar, and shifting investor trends may continue to create uncertainty in precious metal prices in the coming days.
