Pakistan Gold Prices Plummet by Over Rs1,000 Amid International Rate Drop
Gold prices in Pakistan plummeted on Wednesday, following their decline in the international market. The price of gold per tola dropped by Rs1,000, reaching Rs426,436 in the local market. This significant drop is attributed to a decrease in the international rate of gold, which fell by $10 to $4,040 per ounce with a premium of $20.
The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) shared rates showing that 10-gram gold was sold at Rs365,600 after it declined by Rs857. This decrease in prices is a stark contrast to Tuesday's market when the price of gold per tola reached Rs427,436 after falling by Rs4,300.
In related news, the price of silver increased by Rs68 to reach Rs6,291 per tola. The fluctuations in gold and silver prices may impact the jewelry industry and consumers alike, with many awaiting further market developments.