Pakistan Gold Prices Plummet Rs3,500 as Silver Surges

Gold prices in Pakistan fell sharply on Thursday, August 27, dropping by Rs3,500 per tola to Rs483,036. This decline comes as international gold prices also decreased by $35 per ounce to $4,605.

The All Pakistan Sarafa Gems and Jewellers Association reported that 24-karat gold per 10 grams declined by Rs3,001 to Rs414,125. In contrast, silver prices moved higher in both the local and international markets, with a Rs50 increase in local silver rates to Rs7,329 per tola.

The association also noted that 22K gold per 10 grams decreased by Rs2,751 to Rs379,628, while international silver increased by $0.50 per ounce to $68.50. The market update suggests a notable divergence between the two metals, with gold declining in both Pakistan and the international market, whereas silver recorded gains locally and internationally.