Gold price plunges by Rs 8,900 in Pakistan

The prices of gold decreased in the local market on Tuesday, with 24-karat gold per tola rate falling by Rs8,900 to settle at Rs485,062 compared to Rs493,962 on the previous trading day, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association.

Similarly, the price of 10 grams of 24-karat gold declined by Rs7,630 to Rs415,862 from Rs423,492, whereas 10 grams of 22-karat gold went down by Rs6,995 to Rs381,220 against Rs388,215.

In the international market, the price of gold decreased by $89 to $4,627 per ounce from $4,716. Meanwhile, the price of silver per tola decreased by Rs238 to Rs7,811 from Rs8,049, while the price of 10 grams of silver also fell by Rs204 to Rs6,696 from Rs6,900.

The price of silver in the international market decreased by $2.38 to $73.27 per ounce from $75.65.