Pakistan Gold Prices Plummet Amid Global Uncertainty

Gold prices in Pakistan plummeted on August 29, in line with a downward trend in international bullion prices. According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold fell by Rs15,100 per tola, dropping to Rs467,936 from Rs483,036 a day earlier.

The price of 24-karat gold per 10 grams also declined by Rs12,949, falling to Rs401,176 from Rs414,125. In the international market, gold prices fell by $151 per ounce, declining to $4,454 from $4,605.

Silver prices also recorded a significant decline, with the price of silver falling by Rs397 per tola, settling at Rs7,112 compared with Rs7,509 a day earlier. This decline in gold and silver prices comes amid continued geopolitical uncertainty and tensions in the Middle East.