Karachi (Commerce Desk): After rising for four consecutive days in international and local bullion markets, gold and silver prices have unexpectedly recorded a significant decline, resulting in a decrease in the prices of both precious metals in the local market as well.
In the international bullion market, the price of gold fell by $65 per ounce to $4,066.
The impact of the decline in international prices was also witnessed in local bullion markets, where on Friday, the price of gold per tola dropped by Rs. 6,500 to Rs. 429,136, while the price of 10 grams of gold decreased by Rs. 5,573 to Rs. 367,914.
Similarly, the international price of silver declined by 85 cents per ounce to $52.
In local bullion markets, the price of silver per tola fell by Rs. 85 to Rs. 5,678, while the price of 10 grams of silver decreased by Rs. 73 to Rs. 4,867.
According to the report, this unexpected decline in international gold and silver prices followed statements by Democrats regarding restrictions on artificial intelligence and data centres, along with an increase in crude oil prices.