Gold prices in the global market declined for the third consecutive trading day, reaching their lowest level in more than a week. Following this downward trend, gold prices also fell in Pakistan’s local market.

In the international market, gold prices dropped by 1.4 per cent to $3,931.54 per ounce, while silver prices also declined by 1.3 per cent to $50.99 per ounce.

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According to the latest available rates from the Karachi Sarafa Market on November 12, the price of 24-karat gold stood at Rs425,000 per tola, while 10 grams of gold were sold for Rs364,375.

The main factors behind the decline in global gold prices include a stronger US dollar, inflation concerns and expectations of a possible interest rate hike by the US Federal Reserve.