Gold and silver prices recorded a notable decline on the first day of the New Year, offering relief to buyers as both local and international markets moved lower.
In the global market, gold fell by $24 per ounce, slipping to $4,322 per ounce, reflecting weaker demand and cautious investor sentiment at the start of the year.
Following the international trend, prices in the local market also dropped significantly. The price of one tola of gold decreased by Rs. 2,400, bringing it down to Rs. 454,562. Similarly, the price of 10 grams of gold fell by Rs. 2,058, settling at Rs. 389,713.
Silver prices also moved lower. The rate of one tola of silver declined by Rs. 83, taking the new price to Rs. 7,635.
Market analysts say the decline reflects adjustments in global bullion prices at the start of the year, with investors closely watching international economic signals and currency movements for further direction.
