Gold prices in Pakistan experienced a major reduction for the second consecutive day on Wednesday, with the rate per tola decreasing by Rs1,400, closing at Rs260,100, in line with a fall in the rates in the international market.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of 24-karat gold also witnessed a decrease of Rs1,200, taking it up to Rs222,994.
On the other hand, the global gold market also saw a downward trend. The international price of gold fell to $2,481 per ounce after a $17 decrease during the trading day, as reported by the APGJSA.
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Silver prices in the local market also saw a major decrease after a long time, dropping by Rs50 to Rs2,900 per tola.
The fluctuating gold prices in the local market continue to be influenced by the ongoing dynamics of the international market, coupled with domestic factors, including currency exchange rates and demand within the country.
