Gold falls to Rs549,962 per tola after Rs13,900 drop in Pakistan
Business
Gold prices fall sharply in Pakistan after record surge. Per tola drops Rs13,900 to Rs549,962, while global rate declines $139 to $5,272 per ounce.
KARACHI (Dunya News) - After witnessing record highs in both international and domestic markets, gold prices have registered a significant decline.
In Pakistan, the price of gold per tola decreased by Rs13,900, bringing it down to Rs549,962.
Similarly, the price of 10 grams of gold dropped by Rs11,917, settling at Rs471,503.
Meanwhile, the price of 10 grams of 22-karat gold reached Rs532,226 following the latest adjustment.
In the international market, gold prices also fell sharply by $139 per ounce, with the new rate recorded at $5,272 per ounce.
The sharp decline follows recent record increases and reflects fluctuations in both global and local bullion markets.
A day earlier, prices witnessed an increase of over Rs13,000 per tola in Pakistan in line with rising global rates amid geopolitical tensions.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of one tola of gold in Pakistan rose by Rs13,300, reaching Rs563,862, while the price of 10 grams increased by Rs11,402, bringing it to Rs483,420.
Additionally, silver prices in Pakistan also saw an uptick, with the cost of one tola rising by Rs188, reaching Rs10,050.
Meanwhile, in the international market, the price of gold surged by $133 per ounce, reaching $5,411.
It is noteworthy that gold and silver prices had also risen at the end of the previous business week.
