Gold Prices Plunge Rs11,300 per Tola in Pakistani Market

Gold prices took a significant hit in Pakistan's local market on Wednesday, plummeting by Rs11,300 per tola. The decline was attributed to a drop in international gold rates, which fell by $113 to $4,315 per ounce.

The All Pakistan Sarafa Gems and Jewellers Association reported that 24-karat gold rates reached Rs454,036 per tola, while 10-gram gold dropped to Rs389,262. Silver prices also declined, with a 270 rupee decrease to Rs6,859 per tola for silver.

It's worth noting that local market prices are adjusted with a premium of $20 against international rates. The association did not provide further explanation for the price adjustments or offer any predictions for future market trends.