RECORDER REPORT

KARACHI: Gold prices declined further on Tuesday, reflecting the ongoing fall in the world bullion market that reached under $3,400 per ounce, traders said.

World market declined by $16, dragging down the bullion value to $3,398 per ounce, the All Pakistan Sarafa Gems and Jewellers Association said.

The fresh dip impacted the local gold prices that fell by Rs1,000 and Rs857 and traded at Rs361,300 per tola and Rs283,953 per 10 grams, respectively, the association added.

In contrast to gold, the domestic silver prices climbed by Rs69 and Rs59, going up to 3,856 per tola and Rs3,305 per 10 grams, separately. International silver prices grew to $37 per ounce, it said.

It is worth noting that the open market may trade gold and silver at different prices as compared to those fixed by the association.