Gold Prices Plunge by Over Rs3,000 Per Tola in Pakistan

The price of gold plummeted in Pakistan on Saturday, dropping by over Rs3,000 per tola. The All Pakistan Gems and Jewellers Association reported that the price decrease was due to a decline in international bullion rates.

According to the association, the price of gold decreased by Rs3,700 per tola, bringing the new rate to Rs426,736 per tola. Similarly, the price of 10 grams of gold fell by Rs3,202, reaching Rs365,857.

The decline in domestic gold prices is attributed to the downward movement in international bullion rates. Market observers closely monitor global gold prices, currency movements, and international economic developments, as these factors have a direct impact on bullion rates in the local market.