Gold Prices Plummet in Pakistan Amid International Market Decline

Gold prices in Pakistan have dropped by Rs1,000 per tola following a decline in the international market. The All Pakistan Sarafa Gems and Jewellers Association reported that 24-karat gold rates reached Rs426,436 per tola on Wednesday.

The price of 10-gram gold also decreased, dropping by Rs857 to Rs365,600. This decrease is attributed to a decline in the international market, where gold rates have fallen by $10 to $4,040 per ounce.

In contrast, silver prices have increased, with rates rising by 68 to Rs6,291 per tola and 10-gram silver rates increasing by Rs58 to Rs5,393. The association noted that prices in the local market are adjusted by a premium of $20 against rates in the international market.