Gold loses shine, drops Rs2,200 per tola in Pakistan

Karachi: Gold prices plunged in the local bullion markets of the country on Thursday, despite an increase in international rates.

In the local market, the price of gold per tola lost Rs2,200, settling at Rs261,500.

According to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the 10-gram gold was sold at Rs224,194 after it registered a decrease of Rs1,886. On Saturday, gold price clocked in at Rs263,700 after it accumulated Rs1,700.

The yellow metal gained $4 to settle at $2,516 per ounce (with a premium of $20) in the international market.