KARACHI: Gold and Silver Prices Continue to Fall for Third Straight Day in Global and Local Markets
International bullion markets witnessed a sharp decline in precious metal prices for the third consecutive day.
Gold per ounce in the global market dropped significantly by $215, bringing the price down to $4,676 per ounce.
The fall in international prices was quickly reflected in the domestic market. In Pakistan, the price of gold per tola decreased by Rs21,500, settling at Rs490,362.
Similarly, the price of 10 grams of gold fell by Rs18,433 to close at Rs420,406.
Silver prices also recorded notable declines.
The price of silver per tola dropped by Rs601, now standing at Rs8,504, while the price per 10 grams of silver decreased by Rs516 to Rs7,205.
Market analysts attribute the ongoing slide to strengthening of the US dollar and shifting investor sentiment amid global economic developments.
