KARACHI: Gold prices have continued their volatile trend in both international and local markets, with a significant drop recorded on Wednesday, October 14.
According to the All Pakistan Gems and Jewellers Association (APGJSA), the price of gold per tola in the local bullion market fell sharply by Rs. 3,000 to settle at Rs. 437,836. This decline comes a day after gold had gained Rs. 900 to close at Rs. 440,836 on Tuesday.
Similarly, the price of 10-gram gold also witnessed a major decrease. It fell by Rs. 2,572 to reach Rs. 375,373. The decline in the local market is in line with the international market trend. In the global market, gold prices dropped by $30 per ounce to $4,153 per ounce, putting pressure on domestic rates.
Silver prices also followed a downward trajectory. According to market reports, the price of silver per tola decreased by Rs. 172 to Rs. 6,360. Market analysts say that gold prices are being influenced by fluctuations in the international bullion market, movement of the US dollar, and investor sentiment regarding US Federal Reserve interest rates.
They advised buyers and investors to monitor the market closely before making any buying or selling decisions, as prices may continue to fluctuate in the coming days.
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