The price of gold in Pakistan dropped for the second consecutive day on Wednesday, following changes in the global rates.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold fell by Rs1,000 per tola, bringing it down to Rs419,362.

In the local market, the price of 10 grams of 24-karat gold decreased by Rs857, settling at Rs359,535. Similarly, 10 grams of 22-karat gold were sold at Rs329,585, down by a good Rs678 compared to the previous day.

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On the international front, gold dropped by $10, reaching $3,970 per ounce, reflecting a consistent downward trend driven by strengthening global currencies and cautious investor sentiment.

Silver remains unchanged

Silver prices, however, remained unchanged from the previous session. The rate of 24-karat silver per tola remained Rs5,022, while 10 grams of silver continued to be sold for Rs4,305.

Analysts note that fluctuations in the interbank exchange rate and uncertainty in global demand continue to impact precious metal prices in Pakistan. Investors are expected to watch both currency movements and international gold market trends closely in the coming days.