The local bullion market saw a significant decline on Saturday, where the price of 24-karat gold per tola decreased by Rs 4,700 to Rs 455,562.
The same downward trend was observed across different scales of gold on Saturday. The price of 10 grams of 24-karat gold saw a major decrease of Rs 4,030, closing at Rs 390,570.
Similarly, the price of 10 grams of 22-karat gold decreased by Rs 3,694, and its new price was recorded at Rs 358,035.
This decrease in local prices was in line with the fall in the international market, where the value of gold fell by $47 to $4,332.
Silver prices could not escape the market pressure and also recorded a decrease. The price of 24-karat silver per tola decreased by Rs 106 to Rs 7,756.
Along with this, the price of 10 grams of 24-karat silver was reduced by Rs 91, which came to a new level of Rs 6,649.
Reflecting the global trend in precious metals, the international silver price also decreased by $1.06 and closed at $72.81.