Gold prices in Pakistan fell for the second straight day on Wednesday. Markets recorded a noticeable decline in rates across major cities. Traders linked the drop to ongoing weakness in international gold prices.
The All Pakistan Sarafa Gems and Jewellers Association reported a sharp decrease in 24-karat gold rates. The price per tola dropped by Rs1,200, settling at Rs440,662. This decline brought relief to buyers after recent hikes.
Prices for 10 grams of 24-karat gold also fell in local markets. The rate dropped by Rs1,029 to Rs377,796. Meanwhile, 10 grams of 22-karat gold slipped by Rs943 and reached Rs346,325.
International trends also pushed prices downward. Gold in the global bullion market fell by $12. The new international price reached $4,207 per ounce.
READ MORE : Gold price drops by Rs 1,900 per tola
Silver, however, moved in the opposite direction inside Pakistan. The price of silver per tola increased by Rs265, reaching Rs6,367. Traders noted rising demand for silver as a contributing factor.
Similarly, prices for 10 grams of silver climbed by Rs227. The new rate reached Rs5,458 in domestic markets. This rise followed international movement in the silver market.
Globally, silver prices also rose. International silver gained $2.65 and reached $60.95 per ounce. Analysts expect further fluctuations as global markets respond to shifting economic signals.