Commodities
Gold Prices Plummet by Rs1,000 per Tola in Pakistan
Gold prices took a hit in Pakistan on Tuesday, plummeting by Rs1,000 per tola following a decline in international bullion rates.
The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported that the price of 24-karat gold dropped to Rs462,136 per tola. The price of 10-gram gold also fell, down by Rs857 to Rs396,207.
In international markets, gold settled at $4,396 per ounce, a drop of $10 from previous rates. Pakistani prices are typically benchmarked to global rates with an additional premium of $20 per ounce.
The price of silver, on the other hand, increased by Rs10 to Rs7,069, while its 10-gram rate dropped by Rs9 to Rs6,060.