KARACHI: Gold prices declined on Thursday after rising for seven consecutive days in the local market, as international bullion prices fell by $35 per ounce to $4,380.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold in the local market decreased by Rs3,500 per tola to Rs460,436. The price of 10 grams also fell by Rs3,001 to Rs394,749.
Silver prices also declined in both international and local markets. International silver fell by $1.75 per ounce to $64.57.
In Pakistan, silver dropped by Rs175 per tola to Rs6,936, while the price of 10 grams decreased by Rs150 to Rs5,946.
The decline followed a strong rally in precious metals. A day earlier, gold had gained Rs4,200 per tola to reach Rs463,936, while international gold rose by $42 to $4,415 per ounce.
