Gold prices decline in Pakistan amid global drop

(Web Desk): Gold prices fell in Pakistan on Tuesday, mirroring a decline in international bullion rates.

Globally, gold slipped by $11 per ounce to settle at $3,339, prompting a local market reaction. In Pakistan, the price of 24-carat gold dropped by Rs1,100 per tola, bringing it down to Rs356,600. Similarly, the rate for 10 grams fell by Rs943 to Rs305,727.

In contrast, silver prices remained stable, with no change recorded. Silver per tola held steady at Rs4,031, while the price of 10 grams stayed at Rs3,455.

Meanwhile, the Pakistani rupee saw a marginal gain against the US dollar. According to the State Bank of Pakistan (SBP), the rupee appreciated by 0.01%, closing at Rs282.02 in the inter-bank market on Monday, up from Rs282.06 on Friday. This slight improvement reflects growing currency stability.

Separately, the SBP is set to launch its upgraded payment and settlement system, PRISM+, today (August 19), with Governor Jameel Ahmad leading the inauguration.