Gold Price Plummets in Pakistan Amid Global Decline

The prices of gold and silver in Pakistan dropped on August 1, following a slight increase the previous day. The All Pakistan Sarafa Gems and Jewellers Association reported that the price of 24-karat gold per tola decreased by Rs3,700, bringing it down to Rs426,736.

The price of 10 grams of 24-karat gold also saw a decline of Rs3,202, settling at Rs365,857. Similarly, the price of 10 grammes of 22-karat gold dropped by Rs2,907 and is now being sold for Rs335,381.

The downward trend was not limited to Pakistan as international gold prices also fell by $37, reaching $4,043 per ounce in the global bullion market. Silver prices followed suit, with a decrease of Rs57 in the price of 24-karat silver and Rs49 for 10 grams of silver.