KARACHI: Gold prices in Pakistan declined for a second straight day, with the price of one tola dropping by Rs. 9,720, according to market data released on Thursday.
The price of one tola of gold fell to Rs. 432,716, while the price of 10 grams of gold decreased by Rs. 8,748 rupees to Rs. 369,422.
The decline followed losses in the international market, where gold prices dropped by $97 per ounce to $4,102 per ounce.
Meanwhile, silver prices also edged lower. The price of one tola of silver fell by Rs. 40 to Rs. 6,889.
Market analysts attributed the decline to weakness in global bullion markets and changing investor sentiment.
More read, Karachi gold market sees major price drop
Earlier, Gold prices witnessed a significant decline in the local market, tracking a sharp fall in international rates, dealers said.
The price of 24-karat gold per tola dropped by Rs. 12,627 to settle at Rs. 442,436.
Similarly, the price of 10 grams of gold fell by Rs. 11,364, bringing it down to Rs. 378,170, according to local bullion market data.
In the international market, gold prices declined by $126 per ounce, reaching $4,200, traders said.
Silver prices also saw a decrease, with the rate per tola dropping by Rs. 385 to settle at Rs. 6,929 in the local market.
