Pakistan Gold Prices Plummet as International Rates Fall
Gold prices in Pakistan plummeted by Rs11,300 per tola on Wednesday, September 2, bringing the rate down to Rs454,036. The sharp decline came alongside a drop in international gold prices, which fell $113 per ounce to $4,315.
The local market saw silver rates also fall, with the price of silver dropping by Rs270 per tola to Rs6,859 per tola. This significant move was reflected across various gold measurements, including 24-karat gold per 10 grams, which declined by Rs9,688 to Rs389,262.
The decline in international gold prices is a key factor contributing to the downward movement in Pakistan's local market. The data confirms that both major precious metals recorded lower rates on Wednesday, with no additional economic or geopolitical factors cited as contributing to the move.