Gold Prices Plummet by Rs1,800 per Tola in Local Market

Gold prices have dropped significantly in the local market, falling by Rs1,800 per tola. The All Pakistan Sarafa Gems and Jewellers Association reported that the price of 24-karat gold has reached Rs455,736 per tola. This decline follows a drop in international market rates, which decreased by $18 to $4,332 per ounce.

The association noted that prices in the local market are adjusted with a premium of $20 against rates in the international market. As a result, silver rates have also decreased, falling by Rs62 to Rs7,038 per tola for 10-gram silver rates dropped by Rs54 to Rs6,033.

The association's statement did not provide any further information on the causes of this decline or whether it is expected to continue. However, the current market trends suggest that prices may remain low in the coming days.