KARACHI: Gold prices continued their downward trend in Pakistan on Thursday, with the per-tola rate dropping by Rs10,900 amid a sharp decline in international bullion prices.
According to the All Pakistan Sarafa Gems and Jewellers Association, 24-karat gold fell to Rs416,536 per tola.
The price of 10 grams of gold also declined by Rs9,345, bringing the new rate to Rs357,112.
In the international market, gold lost $109 per ounce to reach $3,940, contributing to the decline in domestic bullion rates.
Silver prices also moved lower in Pakistan. The per-tola rate dropped by Rs190 to Rs5,578, while the price of 10 grams decreased by Rs163 to Rs4,782.
The latest decline follows another reduction on Wednesday, when gold became cheaper by Rs3,400 per tola, taking its price to Rs427,436.
The consecutive declines reflect continued weakness in the international precious metals market, with domestic prices tracking movements in global bullion rates.
