KARACHI: Gold prices in Pakistan moved lower on Thursday, reflecting a decline in international bullion rates and offering slight relief to buyers in the local market.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola dropped by Rs500 to Rs474,862. The decrease follows changes in global gold prices, which continue to influence domestic bullion rates.
The association said the price of 10 grams of 24-karat gold also declined by Rs429, settling at Rs407,117.
International gold market trends
In the international market, gold prices recorded a modest decline. The price of gold per ounce fell by $5, reaching $4,525.
Global bullion prices are closely watched by investors and traders, as fluctuations in international markets often affect gold rates in Pakistan.
Silver prices also decrease
Silver prices also registered a decline in the local market.
The price of 24-karat silver per tola fell by Rs83 to Rs8,034, according to the latest rates released by the association.
Gold and silver prices in Pakistan are updated daily and are influenced by international market trends, currency movements, and domestic demand.
Also Read: Gold Gets Cheaper in Pakistan as Rates Drop on May 20
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