KARACHI (Dunya News) - Gold prices continued their downward trend for the fourth consecutive session on Wednesday, reflecting persistent weakness in both international and domestic bullion markets.
According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold in Pakistan fell by Rs4,700 per tola, bringing it down to Rs430,236. The price of 10 grams of gold also declined by Rs4,029, settling at Rs368,858.
The decline followed a sharp drop in the international bullion market, where gold prices fell by $47 per ounce to $4,078 per ounce.
Silver prices also moved lower. The price of silver per tola decreased by Rs138 to Rs6,421, while 10 grams of silver lost Rs119, closing at Rs5,504.
The latest decline comes after gold prices fell across both local and global markets on Tuesday. International gold prices had dropped by $25 per ounce to $4,125, while the domestic price of gold declined by Rs2,500 per tola to Rs434,936. The price of 10 grams of gold also fell by Rs2,143 to Rs372,887.
Silver also recorded losses on Tuesday, with the price per tola decreasing by Rs120 to Rs6,559, while the rate for 10 grams fell by Rs103 to Rs5,623.
The downward trend began earlier this week. On Monday, the price of gold per tola dropped by Rs2,400 to Rs437,436, while 10 grams of gold fell by Rs2,058 to Rs375,030, mirroring losses in international markets.
Gold had already started weakening over the weekend. On Saturday, the price of gold per tola closed at Rs439,836, down Rs1,100, as investors reacted to mixed economic signals from the United States.