Gold Prices Plummet Rs3,500 Per Tola Locally Amid Global Downturn
Gold prices plummeted by Rs3,500 per tola in the local market on Thursday, while silver prices rose. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold prices decreased by Rs3,501 per tola to Rs483,036. The price of 10 grams of gold also fell by Rs3001 to Rs414,125.
The APGJSA reported that silver prices increased by Rs50 per tola to Rs7,329, with a corresponding rise in the price of 10 grams of silver by Rs43 to Rs6,283. The global market saw a decline in gold prices, with a fall of $35 per ounce to $4,605.
On Wednesday, the gold market was closed due to the public holiday marking Eid Miladun-Nabi. On Tuesday, the price of gold per tola closed at Rs486,536 after a decline of Rs600, and 10 grams of gold was quoted at Rs417,126, down Rs514.