On Wednesday, gold prices in Pakistan experienced a significant drop, decreasing by Rs3,000 as the global market for precious metals also saw a decline.
In the local market, the cost of 24-karat gold fell to Rs271,700 per tola, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The price for 10 grams of 24-karat gold similarly decreased by Rs2,572, now valued at Rs232,939.
In the international market, gold prices also dropped, falling by $30 during the day, with the global price settling at $2,617 per ounce, as reported by the APGJSA.
While gold prices took a hit, the silver market remained steady, with the price of silver maintaining at Rs3,050 per tola.
It’s worth noting that just last month, gold prices in Pakistan had reached an all-time high of Rs277,000 per tola, driven by significant fluctuations in the international market.
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