Gold prices in Pakistan fell on Wednesday, reflecting a downtrend in the international market. In the local market, the price of gold per tola decreased to Rs. 444,530 after a decline of Rs. 340 throughout the morning trading session. Similarly, the price for 10 grams of gold saw a fall, reflecting the broader market trend, as per the rates provided by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
In trading over the last 9 hours, gold prices witnessed a decrease against the backdrop of fluctuating international conditions. At the start of the trading cycle, the price per tola was recorded at Rs. 444,870. However, the local market has mirrored the international market’s weakness, leading to a decrease in prices.
Internationally, gold prices have also faced downward pressure. The APGJSA reports an international rate of $4,197.63 per ounce, marking a decrease of $13.77 since the start of the day. This decline reflects broader market trends where gold has been losing ground amidst varying economic indicators and market sentiment.
Silver prices in the local market, in contrast, edged slightly higher, with the price per tola increasing by Rs. 0.27 to reach Rs. 61.06. This subtle rise in silver prices indicates a divergence from the gold market trend, which has been under pressure.
Globally, the precious metals market is influenced by a range of factors, including currency fluctuations, interest rates, and economic data releases. The current decline in gold prices corresponds with a period of market adjustment, as investors recalibrate their positions in response to ongoing global economic developments.
As the day progresses, market participants will continue to monitor international cues and domestic factors that may further influence gold and silver prices in Pakistan. The APGJSA remains a key source of information, providing timely updates on the evolving market scenario.
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