Gold extends losses for third straight day in local and global markets

Karachi
Gold prices continued their downward trend on Saturday, posting losses for the third consecutive session in both international and domestic bullion markets.
In the global market, the price of gold declined by $43 per ounce to $4,155.57, amid softer demand and ongoing fluctuations in precious metals trading.
The weakness in international prices was mirrored in Pakistan’s bullion market, where the price of 24-karat gold per tola fell by Rs43 to Rs437,993. The rate for 10 grams of gold also slipped by Rs39, settling at Rs374,166.
The price of silver per tola increased by Rs16 to reach Rs6,962, while the rate for 10 grams rose by Rs14 to Rs5,909.
Market observers noted that domestic gold and silver prices remain closely tied to movements in international bullion markets, with global trends continuing to play a key role in determining local rates.