Pakistan’s gold market witnessed its second consecutive big drop on Tuesday, following global trends in the yellow metal trade.
According to the All Pakistan Sarafa Gems and Jewellers Association, gold became cheaper across Pakistan as the price of 24-karat gold per tola fell by a huge margin of Rs10,700, bringing the new rate to Rs459,462.
Similarly, the price of 10 grams of 24-karat gold dropped by Rs9,174, settling at Rs393,914. The price of 10 grams of 22-karat gold also declined by Rs8,410 to be sold for Rs361,100.
The downward movement was not limited to Pakistan. In the global bullion market, gold fell by a massive $107, reaching $4,371 per ounce.
Silver prices also followed the same trend. The price of 24-karat silver per tola dropped by Rs145 to be sold for Rs7,930, while 10 grams of silver also saw a decline of Rs125 to be sold at Rs6,798.
