The price of 24-karat per-tola gold fell to below Rs500,000 on Thursday as glittering metal rate suffered a big plunge, reported 24NewsHD TV channel.
The gold price decreased by Rs24,300 per tola to Rs499,462, All Pakistan Sarafa Gems and Jewellers Association reported.
The price of 10 grams of 24-karat gold also slumped by Rs30833 to Rs428,202.
The silver went down by Rs760 per tola.
The price of gold in the international market decreased to 4,767 per ounce.
Reporter Ashraf Khan