The precious metals market saw a significant downturn, leading to a notable decrease in the value of both gold and silver at the local and international levels.
In the local market on Thursday, the price of 24-karat gold per tola decreased by Rs 700 to Rs 540,562. Similarly, the rate of 24-karat 10-gram gold fell by Rs 600 to Rs 463,444.
The price of 22-karat 10-gram gold also dropped by Rs 550 to Rs 424,839.
Silver prices also reflected this bearish trend and experienced a significant decline. The price of 24-karat per tola silver decreased by Rs 350 to Rs 9,204, while the price of 10-gram silver fell by Rs 301 to Rs 7,890.
This decrease in the local bullion market rates is consistent with the downturn in global markets. Globally, the price of gold fell by $7 to $5,178 per ounce. Silver faced a more significant decline in the international market, with its price dropping by $3.50 to $87.20.