Commodities
Gold Prices Plummet in Pakistan by Rs3,600 per Tola
Gold prices plummeted in the local market on Saturday, dropping by Rs3,600 per tola. According to the All Pakistan Sarafa Gems and Jewellers Association, 24-karat gold rates reached a new low of Rs465,536 per tola.
The price of 10-gram gold also declined, falling by Rs3,085 to Rs399,122. This drop in prices comes on the heels of a decline in the international market, where gold rates fell by $36 to $4,430 per ounce.
Gold prices in the local market are adjusted with a premium of $20 against international rates. As a result, the value of silver also decreased, dropping by 63 to Rs7,098 per tola. The price of 10-gram silver fell by Rs54 to Rs6,085.