KARACHI: Gold and silver prices declined in Pakistan and the international bullion market on Saturday, according to the latest rates issued by the All Pakistan Gems and Jewellers Association.

The drop in gold and silver prices affects buyers, investors and jewellers as bullion markets continue to show volatility. Market data showed that domestic gold prices have fallen sharply over the past two days.

In the local market, the price of 24-karat gold decreased by Rs600 per tola, bringing the rate to Rs476,262.

The price of 10 grams of 24-karat gold also fell by Rs515 and settled at Rs408,317.

Silver prices also moved lower. The rate of 24-karat silver declined by Rs159 per tola to reach Rs8,073.

In the international bullion market, gold slipped by $6 per ounce, taking the global rate to $4,539.

Market representatives said gold prices in Pakistan had dropped by Rs16,100 per tola over the last two days, reflecting continued fluctuations in bullion trading.

Also read: Pakistan gold market rebounds on May 12 as prices climb Rs4,100 per tola