KARACHI: Gold prices have recorded a decline for the fifth consecutive day in both international and local markets, after which gold has reached its lowest level in five months.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola in the local market has decreased by Rs. 2,500.
After the latest drop, the price of 24-carat per tola gold has become Rs. 422,036 while the price of 10 grams of gold decreased by Rs. 2,144 to Rs. 361,686.
Along with gold, a decrease in the price of silver was also observed. In the local market, silver per tola became cheaper by Rs. 7 and is now *Rs. 5,858 per tola.
On the other hand, the downward trend in gold prices continues in the international bullion market as well. In the world market, gold per ounce became cheaper by $25 to $3,995 after which its price has gone below the $4,000 level.
As a result of this continuous decline for five days in both global and local markets, the price of gold has reached its lowest level in five months. Further changes in prices will depend on the future market situation.
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