The local bullion market witnessed a significant downturn on Thursday, with both gold and silver prices recording a fall, reflecting the negative trend in the international market.

The value of 24-karat gold decreased significantly, with the price per tola falling by Rs 1,700 to settle at Rs 441,462. Similarly, the rate for 10 grams of 24-karat gold closed at Rs 378,482, down by Rs 1,457.

Similarly, the price of 22-karat gold also decreased, and the price per 10 grams traded at Rs 346,954, down by Rs 1,336.

This local downturn was linked to a decline in the global market, where the international price of gold fell by $17 to $4,191 per ounce.

Silver prices were also not immune to this bearish trend. The per tola price of 24-karat silver decreased by Rs 85 to Rs 6,000, while the price of 10 grams of 24-karat silver fell by Rs 72 to Rs 5,144.

A decrease was also observed in the value of silver internationally, and its price closed at $57.28 per ounce, down by $0.85.