Gold price plunges by Rs14,000 per tola in Pakistan

The gold prices in the country recorded a sharp downturn on Tuesday, as the per-tola price of 24-karat gold dropped by Rs14,000 to Rs416,362 compared to Rs430,362 recorded on the previous trading day.

According to All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 10-gram 24-karat gold declined by Rs12,003, falling to Rs356,963 from Rs368,966 a day earlier.

Likewise, the 10-gram 22-karat gold was traded at Rs327,227, witnessing a decrease of Rs11,004 from Rs338,231 on Monday.

In the international market, gold prices also weakened by $140, dropping to $3,940 compared to the previous day’s rate of $4,080.

Following the downward trend in gold, silver prices also slipped. The rate of silver per tola declined by Rs173, settling at Rs4,924 against Rs5,097 on Monday, while 10-gram silver fell to Rs4,221 from Rs4,369 with a reduction of Rs148.

The price of international silver stood at $46.62, marking a decrease of $1.73 from the previous day’s level of $48.35, the association reported.

Reporter: Ashraf Khan