Karachi, Pakistan – Web Desk: Gold prices recorded a major decline in both international and local markets on Wednesday as ongoing geopolitical and economic uncertainty continued to trigger volatility in precious metals trading.
According to market reports, the international bullion market saw gold prices fall by $68 per ounce, bringing the global rate down to $4,480 per ounce.
The sharp decline in global prices also impacted Pakistan’s local bullion markets, where the price of one tola of gold dropped by Rs6,800 to Rs470,362. Meanwhile, the price of 10 grams of gold decreased by Rs5,830, settling at Rs403,259.
Silver prices also witnessed a notable decline in international markets. The price of silver fell by $1.25 per ounce to $74.90 per ounce.
Following the global trend, local silver prices in Pakistan also moved downward. The price of one tola of silver decreased by Rs125 to Rs7,974, while the price of 10 grams of silver dropped by Rs107 to Rs6,836.
Analysts say fluctuations in global economic conditions, inflation concerns, geopolitical tensions, and uncertainty in international financial markets continue to influence gold and silver prices worldwide.
