The prices of gold and silver have witnessed a significant decrease, reflecting a broader movement in the international precious metals market. The All Pakistan Sarafa Gems and Jewellers Association reported a substantial drop in local and global prices on Monday.
In the local gold market, the per-tola price of 24-karat gold has decreased by Rs 1,400 to Rs 444,900. Similarly, the price of 10 grams of 24-karat gold decreased by Rs 1,200, now available at Rs 381,430. The price of 10 grams of 22-karat gold also saw a decrease of Rs 1,100, reaching Rs 349,656.
Internationally, a decrease in gold prices was also observed. The global price of gold decreased by $17, now at $4,235. This decline reflects trends affecting investors and markets worldwide.
Silver prices have also followed this downward trend, with the per-tola price of 24-karat silver reaching Rs 5,261 after a decrease of Rs 12. The price of 10 grams of 24-karat silver decreased by Rs 10, now available at Rs 4,510. Internationally, the price of silver decreased by $0.26, now at $51.60.
These price changes are attributed to various factors, including shifts in investor sentiment and fluctuations in global economic conditions. The current trends indicate a cautious approach from investors regarding precious metals, as markets are navigating through uncertain economic conditions.