Gold prices in Pakistan fell for the fifth consecutive day on Thursday, extending the downward trend seen in international markets.
According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold dropped Rs. 5,600 to settle at Rs. 448,336 per tola.
The price of 10-gram gold also declined by Rs. 4,801, closing at Rs. 384,375.
Gold Prices Continue to Decline
The latest drop follows another Rs. 1,800 decline on Wednesday, when 24-karat gold closed at Rs. 453,936 per tola.
The continued decline in local gold prices comes amid a similar fall in international gold rates, keeping pressure on the domestic bullion market.
International Gold Price Falls
In the international market, gold prices fell by $56 per ounce to settle at $4,258, including a $20 premium.
The decline in global prices has contributed to the recent weakness in gold rates in Pakistan.
Silver Price Also Drops
Meanwhile, silver prices also moved lower on Thursday.
The price of silver declined by Rs. 171 per tola, settling at Rs. 6,837 per tola.
The latest movement keeps both gold and silver prices under pressure as domestic bullion rates continue to track developments in international precious metals markets.
