KARACHI: Gold prices fell for the fourth consecutive day on Wednesday, with rates declining in both international and local markets.
The latest drop came a day after gold price fell for the third straight day, when the per tola rate stood at Rs434,936 in the local market.
In the international bullion market, gold dropped by $47 per ounce to reach $4,078.
The decline was reflected in local Sarafa markets, where the price of gold fell by Rs4,700 per tola to Rs430,236.
Gold price falls for third straight day, per tola at Rs434,936
| Gold Rate | Yesterday | Today | Change |
|---|---|---|---|
| Per Tola Gold | Rs434,936 | Rs430,236 | Down Rs4,700 |
| 10 Gram Gold | Rs372,887 | Rs368,858 | Down Rs4,029 |
| International Gold | $4,125/ounce | $4,078/ounce | Down $47 |
Similarly, the price of 10 grams of gold decreased by Rs4,029 and settled at Rs368,858.
Silver prices also moved lower during the day. In the global market, silver fell by $1.38 per ounce to $59.42.
Following the international decline, the local price of silver dropped by Rs138 per tola to Rs6,421, while 10 grams of silver became cheaper by Rs119 to Rs5,504.
| Silver Rate | Yesterday | Today | Change |
|---|---|---|---|
| Per Tola Silver | Rs6,559 | Rs6,421 | Down Rs138 |
| 10 Gram Silver | Rs5,623 | Rs5,504 | Down Rs119 |
| International Silver | $60.80/ounce | $59.42/ounce | Down $1.38 |
The latest fall shows continued pressure on precious metal prices, offering some relief to buyers after a recent spell of high rates.
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