Gold prices in the local bullion market saw a notable decline on Thursday. The price of one tola gold dropped by Rs. 2,600. It now stands at Rs. 273,600. The price of 10 grams of gold also decreased by Rs. 2,229. It is now priced at Rs. 234,311.
The international gold market also reported a decline. Gold prices fell by $26 per ounce. The price of gold per ounce now stands at $2,621. Experts attribute the drop to reduced global demand and fluctuating market trends.
Silver Prices Also Decline
Silver prices in the local market followed the same trend. The price of one tola silver decreased by Rs. 50. It is now available at Rs. 3,350. The drop comes amidst declining silver demand in the international market.
India-Pakistan ICC Matches to Be Played at Neutral Venues
Market Experts Share Insights
Analysts believe the declining trend will impact investor sentiment. Gold and silver buyers are advised to monitor market conditions closely. Many expect further price fluctuations in the coming days.
Impact on Local Buyers
The price drop may encourage local buyers. Jewelers anticipate increased demand due to the reduced rates. Wedding season may see a rise in gold and silver purchases.
This consistent decline highlights the dynamic nature of the bullion market. Local and global factors continue to influence prices, affecting both traders and consumers.
Follow Day News on Google News, Instagram, YouTube, Facebook, Whats App, and TikTok for latest updates