Gold Prices Plummet by Rs4600 per Tola in Pakistan

Gold prices took a hit in Pakistan's local market on Friday, following a decline in international rates. The All Pakistan Sarafa Gems and Jewellers Association reported that 24-karat gold rates plummeted by Rs4,600 per tola to reach Rs427,436. This drop is significant, with the price of 10-gram gold also falling by Rs3,944 to Rs366,457.

The association attributed the decrease in prices to a fall in international market rates, where gold rates dropped by $46 to $4,050 per ounce. Local prices are adjusted with a premium of $20 against international rates, which could be contributing to the decline.

Silver rates also suffered, falling by 61 paisa to Rs6,309 per tola and 10-gram silver rates dropping by Rs53 to Rs5,408.