Karachi: The price of gold has recorded a major decline in the global and local markets today, and in the past few days, gold has become cheaper by about Rs 38,000 per tola.

The price of gold and silver continues to decline due to the continued sale of gold reserves at the global level and the decrease in demand relative to supply.

As the price of gold per ounce in the international bullion market fell by another $ 97.20 to $ 4,102, the price of gold per tola in the local bullion markets also fell by another Rs 9,720 to Rs 432,716 on Thursday.

Also read this news: Global and local gold prices drop again today after a gap of a few days

Similarly, the price of gold per 10 grams at the local level fell by Rs 8,748 to Rs 369,422.

Along with gold prices, the price of silver per ounce in the global market fell by 40 cents to $64.10, as a result of which the price of silver per tola in the local bullion markets also fell by Rs 40 to Rs 6,889 and the price of silver per 10 grams also fell by Rs 36 to Rs 5,857.

It should be noted that on Saturday, June 6, gold prices fell by Rs 12,489 per tola, after which gold became cheaper by Rs 3,094 per tola on Monday, June 8. The decline in prices continued and on the previous day, June 10, a major decline of Rs 12,627 was recorded in the price of gold.