Gold prices decline after three consecutive days of increases

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Gold prices in both international and local markets decreased today after a three-day streak of consecutive increases.

In the international bullion market, the price of gold per ounce dropped by $2, settling at $2,703.

Meanwhile, in local markets, the price of 24-karat gold per tola fell by Rs200, bringing it to Rs282,400, while the price per 10 grams decreased by Rs170, settling at Rs242,112.

Similarly, the price of silver per tola dropped by Rs24, bringing it to Rs3,381, and the price per 10 grams declined by Rs21, reaching Rs2,898.

Earlier, Gold prices increased on Friday, following an upward trend in international markets. The price of gold per tola rose by Rs400, reaching Rs282,600 in the local market, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The day before, gold prices had surged significantly, with a Rs1,400 increase per tola, closing at Rs282,200. On the international market, gold prices also rose, with APGJSA reporting a rate of $2,705 per ounce, reflecting a $2 increase during the day.

Adnan Agar, Director of Interactive Commodities, noted that the price reached a high of $2,724 the previous day before retreating.