Gold prices tumble sharply as silver also extends losses in Pakistan

Gold and silver prices fell sharply in Pakistan after a decline in international bullion markets, bringing noticeable relief to buyers.

According to the 24NewsHD TV channel, the price of gold dropped by Rs5,600 per tola, bringing the domestic rate down to Rs424,136. 

The decline followed a fall in the international market, where gold lost 56 dollars per ounce to settle at 4,017 dollars.

The TV channel reported that the price of 10 grams of gold also decreased by Rs4,801, taking the new rate to Rs363,628.

As per the channel report, silver prices also moved lower. The price of silver declined by Rs50 per tola, bringing the new rate to Rs6,289.

Reporter: Ashraf Khan