Gold prices declined in global and local markets on Thursday, while silver prices increased. In the international bullion market, the price of gold fell by $35 per ounce to $4,605.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) in the local market, the price of gold decreased by Rs3,500 per tola to Rs483,036. The price of 10 grams of gold fell by Rs3,001 to Rs414,125.

Meanwhile, the price of silver increased by Rs50 per tola to Rs7,329. The price of 10 grams of silver also rose by Rs43 to Rs6,283.

Read: Gold up as global rates hit 3-month high

On Wednesday, the gold market was closed due to the public holiday marking Eid Miladun-Nabi

On Tuesday, the price of gold per tola closed at Rs486,536 after a decline of Rs600. 10 grams of gold was quoted at Rs417,126, down Rs514, according to rates shared by the APGJSA.

On Monday, according to the APGJSA, the price of 24-carat gold per tola reached Rs487,136 after gaining Rs4,200. Ten-gram gold was quoted at Rs417,640, up Rs3,601.

On Saturday, the per-tola rate had risen Rs5,700. In the global market, spot gold rose 1.5% to $4,673.20 per ounce, its highest level since May 14. US gold futures for December delivery advanced 1.1% to $4,730.40 an ounce, as per Reuters.