LAHORE – The price of gold saw losses in local and international markets on Friday, bringing some relief to potential buyers.
As per Saraffa Association, price of single tola of gold plunged by Rs1,500, bringing it down to Rs355,500 while price of 10 grams of gold declined by Rs1,286, now being sold at Rs304,783.
On the other hand, the price of silver remained stable. One tola of silver is still being traded at Rs. 3,871 with no change reported.
Market analysts attribute the fall in gold prices to fluctuations in global demand, changes in interest rates, and economic uncertainty affecting investor sentiment.
In the international market, the price of gold fell by $15 per ounce, now standing at $3,335 per ounce. The downward trend in global bullion rates has directly impacted local pricing as well.
Buyers and investors are keeping a close watch on further market movements, as the precious metals market remains volatile.
