Karachi: (RightNow) Following a decline in the global market, the price of gold per tola in Pakistan’s jewelry markets has decreased by a record Rs 12,800.

According to the All Pakistan Gems and Jewellers Sarafa Association, the new price has reached Rs 438,136. The price of 10 grams of gold has also dropped by Rs 10,973.

Representatives of the Sarafa Association stated that the local market’s decline is due to falling gold prices internationally. Gold in the global market has become cheaper by $128 per ounce.

This decrease has also impacted the price of silver, which has fallen by Rs 325 to Rs 6,578 per tola.

It is noteworthy that rising oil prices in the global market and an increase in US bond yields are putting pressure on gold prices.