Gold Prices Plummet by Rs3,500 Per Tola in Pakistan's Local Market

Gold prices have plummeted in Pakistan, falling by Rs3,500 per tola on Thursday. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold has reached Rs460,436 per tola.

The association attributed this decline to a drop in international market rates, which have fallen by $35 to $4,380 per ounce. The local market adjusts prices with a premium of $20 against international rates.

In addition to the decline in gold prices, silver rates have also dropped. Silver has gone down by 175 to Rs6,936 per tola, while 10-gram silver rates have fallen by Rs150 to Rs5,946.