Gold prices declined once again on Wednesday in both international and local markets, extending the sharp losses recorded a day earlier.
In the global market, gold prices fell by $25 per ounce, bringing the rate down to $4,346 per ounce.
In Pakistan’s local market, the price of gold dropped by Rs. 2,500 per tola, after which one tola was priced at Rs. 456,962. The price of 10 grams of gold also declined by Rs. 2,143, settling at Rs. 391,771.
Silver prices followed a similar trend, with the rate per tola decreasing by Rs. 212 to Rs. 7,718.
The decline comes a day after a major correction in the domestic market. On Tuesday, gold prices had plunged by Rs. 10,700 per tola, bringing the rate down to Rs. 459,462, while the price of 10 grams fell by Rs. 9,114 to Rs. 393,914. Silver had also dropped by Rs. 145, settling at Rs. 7,930 per tola.
Market analysts say the continued drop reflects profit-taking and easing international prices, with investors closely watching global economic signals and currency movements.
