Global Gold Price Plummets, Local Markets Follow Suit

The global bullion market experienced a significant drop in gold and silver prices, leading to a decline in local markets as well. According to market data, the price of gold fell by $46 per ounce to $4,050 in the international bullion market.

This sharp decrease influenced domestic gold prices in Pakistan, causing the 24-karat gold rate per tola to drop by Rs4,600 and reach Rs427,436. The 10-gram gold price also declined by Rs3,944, settling at Rs366,457.

Silver prices followed suit, with a decrease of Rs61 in the local bullion market, bringing the silver rate per tola down to Rs6,309.