Gold prices go down in Pakistan by Rs550 per tola

Karachi: Gold prices decreased in line with developments in the international market on Wednesday.

The prices of the yellow metal had continuously been going up since the commencement of the ongoing week but the rising trend stopped due to different factors.

All Pakistan Sarafa Gems and Jewellers Association (APSGJA) shared the data which showed the price of gold (24 carats) going down by Rs550 per tola and Rs471 per 10 grams to reach Rs216,850 and Rs185,914, respectively.

In the international market, the gold prices also went down by $31 to settle at $1,974 per ounce today.

The local reports suggested that the yellow metal had reached a record high of Rs218,600 per tola last week in Pakistan. It then dropped to Rs216,000 per tola on April 15 as its rate declined in the international market. It was again on the rise as the current week began.