Pakistan's Gold and Silver Prices Plummet Amid Global Market Downturn

Gold and silver prices in Pakistan have declined further as global markets extend their downward trend. According to the latest rates issued by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-carat gold fell by Rs1,000 per tola to Rs426,436, while its price dropped by Rs857 to Rs365,600 for 10 grams.

The prices of silver also followed the same trend. The price of silver per tola dropped by Rs68 to Rs6,291, and 10 grams of silver declined by Rs53 to Rs5,408.

This decline in domestic prices is attributed to a fall in international bullion markets, where gold fell by $10 to $4,040 per ounce. The latest reduction follows a sharper fall recorded on 24 July, when the price of 24-carat gold dropped by Rs4,600 per tola.