Shafaqna Pakistan: Gold prices extended their losing streak for a fourth consecutive day on Wednesday, with declines recorded in both international and domestic bullion markets.
In the international market, the price of gold fell by $47 per ounce to $4,078. Reflecting the global trend, the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) said the price of gold in the local market dropped by Rs4,700 per tola to Rs430,236, while the price of 10 grams declined by Rs4,029 to Rs368,858.
Silver prices also moved lower, with the price per tola falling by Rs138 to Rs6,421 and the rate for 10 grams declining by Rs119 to Rs5,504.
The latest drop follows Tuesday’s decline, when international gold prices fell by $25 per ounce to $4,125, continuing the downward trend in bullion markets.
According to the APGJSA, the price of gold per tola also declined by Rs2,500 to Rs434,936. The price of gold per 10 grams decreased by Rs2,143, settling at Rs372,887.
Meanwhile, the price of silver per tola fell by Rs120 to Rs6,559. The price of silver per 10 grams also declined by Rs103, standing at Rs5,623.
On Monday, gold prices in Pakistan also declined, tracking losses in the international market. In the local market, the price of gold per tola stood at Rs437,436 after falling by Rs2,400 during the day, according to rates released by the APGJSA.
Similarly, 10-gram gold was traded at Rs375,030, down Rs2,058.
On Saturday, the price of gold per tola closed at Rs439,836 after declining by Rs1,100. The decline came as investors weighed mixed signals from the US economy.
Source: Express Tribune
