Gold and silver prices recorded a sharp decline on Saturday in both domestic and international markets, reversing gains made during a brief bullish spell a day earlier.
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According to the All Pakistan Sarafa-Gems and Jewellers Association, the price of 24-carat gold per tola dropped by Rs 4,700 to settle at Rs 455,562. Similarly, the price of 10 grams of 24-carat gold fell by Rs 4,030, reaching Rs 390,570.
The cost of 10 grams of 22-carat gold also declined, falling by Rs 3,694 to Rs 358,035. The downturn marks a swift correction following recent upward momentum in the local bullion market.
Internationally, gold prices weakened as well, with gold per ounce declining by $47 to trade at $4,332.
Silver prices mirrored the downward trend. In Pakistan, silver per tola fell by Rs 106 to Rs 7,756, while the price of 10 grams dropped by Rs 91 to Rs 6,649. On the global market, silver prices slipped by $1.06, trading at $72.81 per ounce.
