The fluctuation in gold prices across Pakistan continues, and just a day after price stability, the precious metal witnessed a significant drop in value on Tuesday.
According to state news agency APP, the All Pakistan Sarafa Gems and Jewellers Association reported that the price of 24-karat gold fell by Rs 7,000 per tola, causing the rate to slide from Rs 430,662 to Rs 423,662 per tola.
Similarly, the price of 24-karat gold for 10 grams declined by Rs 6,002, dropping from Rs 369,223 to Rs 363,221. Meanwhile, 22-karat gold for 10 grams saw a reduction of Rs 5,502, falling from Rs 338,466 to Rs 332,964.
In the international bullion market, gold also experienced a substantial decline as prices dropped by USD 70, pushing the global rate down from USD 4,083 to USD 4,013 per ounce. Analysts attribute this decline to reduced demand and uncertainty in global financial markets.
Silver prices followed a similar downward trend. In Pakistan, silver became cheaper by Rs 123 per tola, bringing the price down from Rs 5,368 to Rs 5,245. The 10-gram silver rate also decreased by Rs 106, sliding from Rs 4,602 to Rs 4,496.
In the global market as well, silver prices dropped by USD 1.23, from USD 50.96 to USD 49.73 per ounce, reflecting a broader weakening trend across precious metals.
