Gold, silver prices decline after two days of stability

The Express Tribune reported that gold and silver prices dropped on Saturday in both international and local markets, ending a two-day spell of unchanged rates. In the global bullion market, gold lost $36 per ounce and now stands at $4,430. Figures from the All-Pakistan Gems and Jewellers Sarafa Association put the local tola rate of gold down Rs3,600 at Rs465,536.

Gold for 10 grams slipped Rs3,086 to Rs399,122, moving in the same direction as the tola rate. Silver also weakened, with the tola price falling Rs63 to Rs7,098 while the 10 gram price eased Rs54 to Rs6,085. Both metals therefore recorded lower domestic prices following the two-day pause in movement. The international price of gold was quoted per ounce, while local rates were given per tola and per 10 grams.