Gold Prices Ease in Local, Global Markets

News Desk 

Islamabad: Gold prices slipped in both domestic and international markets on Saturday, mirroring a minor decline in global rates.

According to the All Pakistan Gems and Jewellers Association, the international bullion price fell by $2 to settle at $3,643 an ounce. In line with the trend, the local price of 24-carat gold declined by Rs200 to Rs386,300 per tola, while the rate for 10 grams dipped by Rs172 to Rs331,189.

Silver also followed suit, with its per-tola price dropping by Rs13 to Rs4,443 and 10 grams losing Rs11 to settle at Rs3,807.

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The association said the adjustment reflects prevailing global market trends and currency fluctuations.

Just two days earlier, bullion prices had retreated sharply after hitting record highs in Pakistan.

On Thursday, international gold dropped by $36 an ounce to $3,618, dragging domestic prices lower as 24-carat gold fell by Rs4,100 per tola to Rs384,000, while 10 grams shed Rs3,515 to Rs329,218. Silver prices had also slipped then, losing Rs36 per tola and Rs32 per 10 grams.

Bullion dealers attributed the latest correction to volatility in international markets, noting that local demand remains muted as buyers remain cautious.