Gold prices dip in both international, local markets

Gold prices saw a significant decline in both international and local markets on Saturday, following a rise just one day earlier.

The international price of gold per ounce dropped by $3, settling at $2,562. This decrease came after a $13 increase the previous day, when gold had briefly reached $2,565 per ounce.

In local markets, the price of 24-carat gold per tola (11.66 grams) fell by Rs 300, bringing it down to Rs 267,400.

Similarly, the price for 10 grams of gold decreased by Rs 258, settling at Rs 229,252.

Despite the drop in gold prices, silver remained stable in both local and international markets. One tola of silver was priced at Rs 3,250, while the price for 10 grams of silver remained unchanged at Rs 2,786.

This fluctuation in gold prices follows a significant increase in both international and local rates on Friday.

The price of gold had risen by $13 per ounce, reaching $2,565, while local prices increased by Rs 1,300 per tola and Rs 1,115 per 10 grams.

Traders noted that the recent volatility in gold prices was largely influenced by global market trends, which are subject to various economic factors, including currency fluctuations and investor sentiment.