Commodities
Pakistan Gold Prices Plummet Amid International Downturn
The price of gold in Pakistan's local market has taken a significant hit, plummeting by Rs5,600 per tola on Friday. According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association, 24-karat gold now costs Rs456,736 per tola.
Not only did the price of 24-karat gold decrease, but also that of its variants. 10 grams of 24-karat gold fell by Rs4,801 to settle at Rs391,577, while 22-karat gold decreased by Rs4,401 to Rs358,958.
The international market is also experiencing a downturn in gold prices, with the price declining by $56 to $4,342 per ounce. Silver has not been spared either, with its price per tola decreasing by Rs253 to Rs6,871 and 10 grams of silver falling by Rs217 to Rs5,890.