KARACHI: Gold prices recorded a significant drop in both international and local markets on Thursday after a day of stability.
In the international bullion market, gold prices fell sharply by $95 per ounce. The new global rate now stands at $4,723 per ounce.
Following the international trend, local bullion markets in Karachi also witnessed a major correction.
The price of 24-carat gold per tola decreased by Rs 9,500 and is now trading at Rs 494,662, while gold per 10 grams declined by Rs 8,145 to Rs 424,092.
Silver prices also moved downward. Silver per tola dropped by Rs 300 to Rs 7,884, and silver per 10 grams decreased by Rs 257 to Rs 6,759.
The local market rates are directly influenced by the downward trend in the global bullion market.
