Gold Prices Drop for Second Consecutive Day in International and Local Markets

Gold prices witnessed a decline for the second consecutive day, driven by a downward trend in the international bullion market. Globally, the per ounce price of gold dropped by $10, bringing the new international rate to $4,208 per ounce.

Following the global trend, the local gold market in Pakistan also recorded a decrease. On Wednesday, the price of 24-karat gold per tola fell by Rs 1,000, reaching Rs 443,162. Similarly, the price of 10 grams of gold decreased by Rs 858, settling at Rs 379,939.

In contrast to the fall in gold prices, silver rates showed an upward movement. The price of silver per tola increased by Rs 81, reaching Rs 6,085, while 10 grams of silver saw an increase of Rs 69, rising to Rs 5,216.

Market experts cite fluctuations in global economic conditions and investor sentiment as key factors influencing precious metal prices.