Gold prices in Pakistan saw a significant plunge on Tuesday, mirroring a sharp drop in the international market, according to the All Pakistan Gems and Jewellers Association.
In the global market, the price of gold per ounce fell by $39, landing at $3,327. The ripple effect was strongly felt across Pakistan, with one tola of 24-karat gold declining by a steep Rs3,800, now priced at Rs354,365. Similarly, 10 grams of 24K gold dropped by Rs3,258, bringing the new rate to Rs303,810.
Rates for 22-karat gold (10 grams) also took a hit, slipping by Rs2,987 to settle at Rs278,502.
Silver prices followed suit but with comparatively smaller reductions. One tola of silver (24K) decreased by Rs9, now priced at Rs3,790, while 10 grams of silver slipped by Rs8, standing at Rs3,249. In the international market, silver per ounce fell slightly by $0.09, now trading at $36.06.
The association confirmed that these revised rates are based on current interbank exchange rates, reflecting the sensitivity of precious metal prices to both global trends and currency fluctuations.