Gold prices in Pakistan witnessed a significant decline on Thursday, mirroring a downward trend in the international market. In the local bullion market, the price of gold per tola fell by Rs11,000, settling at Rs468,262.
Similarly, the rate for 10 grams of gold decreased by Rs9,430, bringing it down to Rs401,459. These updated figures were released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
A day earlier, on Wednesday, gold prices had surged, with the per tola rate reaching Rs479,262 after an increase of Rs15,200.
On the global front, gold prices also experienced a notable drop. The international rate declined by $110 per ounce, closing at $4,455, which includes a premium of $20.
In addition to gold, silver prices in Pakistan also moved downward. The price of silver per tola decreased by Rs340, settling at Rs7,484.
Conclusion
The recent drop in gold and silver prices reflects volatility in the international bullion market, directly impacting local rates in Pakistan. Investors and traders are advised to closely monitor global trends for better decision-making.