Gold prices in Pakistan experienced a significant decline on Wednesday, plummeting by Rs3,000 as global markets also saw a drop in precious metal rates.
In the local market, the cost of 24-karat gold decreased by Rs3,000 per tola, bringing the price to Rs271,700, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Additionally, the price for 10 grams of 24-karat gold fell by Rs2,572, now valued at Rs232,939.
On the global front, gold prices also took a hit, with a decrease of $30 during the day, resulting in an international gold price of $2,617 per ounce, as reported by the APGJSA.
Despite the decline in gold prices, the silver market remained stable, with the price of silver steady at Rs3,050 per tola.
It is worth noting that last month, gold prices in Pakistan had reached a record high of Rs277,000 per tola, largely influenced by fluctuations in the international market.
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