KARACHI: Gold prices in Pakistan continued their downward trend on Wednesday, with the price of 24-karat gold declining by Rs1,000 per tola, in line with a fresh dip in the international bullion market.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), whose Karachi bullion market rates are applicable across the country, the price of 24-karat gold settled at Rs426,436 per tola, down from Rs427,436 in the previous session.
Likewise, the price of 10 grams of 24-karat gold decreased by Rs857 to Rs365,600, while 10 grams of 22-karat gold fell by Rs786 to Rs335,145.
The international gold market also remained under pressure, with bullion prices falling by $10 to $4,040 per ounce, contributing to the decline in local gold rates.
In contrast, silver prices staged a recovery. The price of 24-karat silver rose by Rs68 to Rs6,291 per tola, while 10 grams of silver gained Rs58 to Rs5,393. In the international market, silver prices increased by 68 cents to $58.12 per ounce.
The Karachi bullion market serves as the benchmark for precious metal prices across Pakistan, with domestic gold and silver rates determined on the basis of international bullion prices and the interbank exchange rate.
