Gold prices fall Rs3,800 per tola in Pakistan

Gold prices in Pakistan fell sharply on Thursday, with the price of a tola declining by Rs3,800 after gaining Rs7,900 a day earlier.

According to the All-Pakistan Gems and Jewellers’ Sarafa Association's press release, the price of 24-karat gold fell to Rs453,436 per tola, from Rs457,236 on Wednesday.

The decline in Pakistan’s bullion market followed a sharp fall in international gold prices where the price of gold fell by $38 per ounce to $4,309. International silver prices also declined, falling by $0.73 per ounce to $63.91.

The latest decline came after gold prices had already fallen by Rs7,800 over the two sessions preceding Wednesday, before rebounding sharply by Rs7,900 in the previous session.

Silver prices also moved lower on Thursday. The price of a tola of silver declined by Rs73 to Rs6,869, compared with Rs6,942 on Wednesday. The price of 10 grammes of silver fell by Rs62 to Rs5,889.