Gold prices witnessed a significant decline in the local bullion market on Wednesday, with 24-karat gold closing at Rs 498,962 per tola after a significant drop of Rs 1200. This was the largest daily change across all types of precious metals.
Meanwhile, the price of 10 grams of 24-karat gold also saw a substantial reduction, decreasing by Rs 1029 to reach Rs 427,779. Similarly, the price of 10 grams of 22-karat gold was Rs 392,145 after a reduction of Rs 943.
In the international market, the international price of the yellow metal stabilized at $4766 per ounce after a $12 decrease.
The white metal (silver) followed a similar trend, albeit with smaller changes. 24-karat silver came down to Rs 8,324 per tola with a decrease of Rs 34.
The price of 10 grams of 24-karat silver was reduced by Rs 29, after which it is available for Rs 7,136.
Internationally, silver prices saw a slight decrease of $0.34, with its global rate being $78.40.