Big decline in gold prices in Pakistan

After a devaluation of dollar against Pakistani currency on Wednesday, a big decline in gold prices was observed in the local markets of Pakistan.

According to the 24News HD TV channel, the price of pure gold of 24 karats was decreased by Rs550 per tola in a day.

On Wednesday, the yellow metal of 24 karats traded at Rs216,850 per tola while the price of 10 grams gold of 24 karat also decreased by Rs471 and traded at Rs185,914 per 10 grams.

 In the International market, the rates of gold fell by US$31 per ounce and traded at US$1,974 per ounce on Wednesday.

The rates of pure silver of 24 karats remained unchanged and traded at Rs2,530 per tola and Rs2,170 per 10-gram.