Gold, silver prices fall in local, global markets

Price of gold falls by Rs4,300 per tola to Rs436,336 in Pakistan

KARACHI:

Gold and silver prices declined in international and local markets on Saturday. In the international bullion market, the price of gold fell by $43 per ounce to $4,138.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold in the local market fell by Rs4,300 per tola to Rs436,336. The price of 10-gram gold decreased by Rs3,687 to Rs374,087.

Meanwhile, the price of silver fell by Rs56 per tola to Rs6,522. The price of 10-gram silver also decreased by Rs48 to Rs5,591.

A day earlier, The price of gold in the local market increased by Rs2,000 per tola to Rs440,636, according to rates released by the APGJSA. Similarly, the price of 10-gram gold rose by Rs1,715 to Rs377,774. Local silver prices increased by Rs50 per tola to Rs6,578.

On Thursday, gold had declined by Rs3,000 per tola to Rs438,636.

Read: Gold rises despite weekly global losses

On Wednesday, gold prices increased in international and local markets after a three-day pause. According to the APGJSA, the price of gold in the local market increased by Rs4,300 per tola to Rs441,636. The price of 10-gram gold rose by Rs3,686 to Rs378,631.

Meanwhile, the price of silver per tola increased by Rs20 to Rs6,578, while the price of 10-gram silver also rose by Rs17 to Rs5,639.

On Tuesday, gold prices in the local market fell for a second consecutive session. The price of 24-karat gold fell by Rs800 per tola to Rs437,336, according to rates released by the APGJSA. The price of 10-gram gold declined by Rs686 to Rs374,945.

Silver prices in the local market also declined on, falling by Rs20 per tola to Rs6,558.

Read more: Gold drops despite global rebound

On Monday, gold prices in the local market fell sharply, tracking a steep decline in the international market. The price of gold declined by Rs12,800 per tola to Rs438,136, according to rates released by the APGJSA. The price of 10-gram gold decreased by Rs10,973 to Rs375,631.

Meanwhile, silver prices also declined in the domestic market. The price of silver fell by Rs325 per tola to Rs6,578.