Gold prices witnessed a decline in the local market on Tuesday, with the price of 24-karat gold per tola decreasing by Rs 500 to settle at Rs 427,936, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association.

ISLAMABAD, Aug 4 (APP):Gold prices witnessed a decline in the local market on Tuesday, with the price of 24-karat gold per tola decreasing by Rs 500 to settle at Rs 427,936, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association.

Similarly, the price of 10 grams of 24-karat gold fell by Rs 428 to Rs 366,886, while the price of 10 grams of 22-karat gold declined by Rs 392 to reach Rs 336,324.

In the international market, the price of gold decreased by US$ 5 to US$ 4,055 per ounce, the association reported.

Meanwhile, silver prices recorded an upward trend in the local market. The price of silver per tola increased by Rs60 to Rs 6,351, while the price of 10 grams of silver rose by Rs 51 to Rs 5,444.

The price of silver in the international market also increased by US$ 0.60 to US$ 58.72 per ounce, the association added.