Massive Decline in Gold & Silver Prices
Massive Decline in Gold & Silver Prices: After a three-day market break, the gold and silver prices in both local and international bullion markets have seen a noticeable decline. Investors, traders, and buyers are closely watching this shift, as it may signal a larger trend in the precious metals market.
International Gold Prices Take a Hit
The international bullion market opened after the break with a significant drop in gold prices. The price of gold per ounce fell by $24, bringing it down to $3,668. This decline in the international market had a direct impact on local prices, affecting both gold and silver rates across the board.
Local Gold Market Sees Sharp Decline
In the local bullion markets, the impact was immediately visible. The price of 24-carat gold per tola dropped by Rs2,400, settling at Rs388,600. Similarly, the price of 10 grams of gold fell by Rs2,058, bringing the new rate to Rs333,161.
This significant reduction is being closely followed by both gold investors and consumers, especially those planning for weddings or long-term investments.
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مقامی اور بین الاقوامی بلین مارکیٹ میں سونے اور چاندی کی قیمتوں میں 3روزہ وقفے کے بعد کمی کا رحجان رہا۔
بین الاقوامی بلین مارکیٹ میں فی اونس سونے کی قیمت 24ڈالر کی کمی سے 3ہزار 668ڈالر کی سطح پر آگئی جس کے نتیجے میں مقامی صرافہ مارکیٹوں میں بھی بدھ کو 24قیراط کے حامل فی تولہ سونے کی قیمت 2400روپے کی کمی سے 3لاکھ 88ہزار 600 روپے کی سطح پر آگئی۔
اسکے علاوہ فی دس گرام سونے کی قیمت بھی 2058روپے کی کمی سے 3لاکھ 33ہزار 161روپے کی سطح پر آگئی۔
اسی طرح فی تولہ چاندی کی قیمت بھی 109روپے کی کمی سے 4ہزار 387روپے اور دس گرام چاندی کی قیمت بھی 93روپے کی کمی سے 3ہزار 761روپے کی سطح پر آگئی۔
Silver Prices Also Go Down
Gold wasn’t the only metal to see a price drop. The silver price per tola also declined by Rs109, reaching Rs4,387. Likewise, 10 grams of silver saw a decrease of Rs93, making the new price Rs3,761.
This simultaneous fall in both gold and silver prices has caught the attention of market analysts and buyers alike.
What’s Causing the Decline?
While the exact reasons behind the price drop haven’t been fully confirmed, some possible factors include:
- Global market corrections after the 3-day closure
- Fluctuations in the US dollar and interest rates
- Uncertainty in international economic policies
- Shifts in investor sentiment
Such fluctuations are common in bullion markets, and the recent price cuts could be part of a broader global trend.
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What Does This Mean for Buyers and Investors?
For buyers, especially those looking to purchase jewelry, this drop in gold and silver prices could be an opportunity to buy at lower rates. Many local jewelers might see a slight increase in customer footfall due to the sudden decrease in prices.
For investors, however, it’s a time for caution. Precious metals are long-term assets, and short-term price dips should be viewed in the context of broader market trends.
Market Outlook: What’s Next?
Analysts suggest keeping an eye on international economic indicators, currency exchange rates, and geopolitical developments. If the international price of gold and silver continues to fall, local prices may follow suit. However, any signs of recovery could reverse the current trend.
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