Gold prices drop in Pakistan, global markets

Karachi: Gold prices in Pakistan plunged on Wednesday in line with their loss in the international market. The per tola price of yellow metal in the local markets reached Rs419,636 after a decline of Rs5,200 during the day.

Similarly, 10-gram gold was sold at Rs359,770 after it fell by Rs4,458, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Tuesday, gold price per tola reached Rs424,836 after a decline of Rs4,100 during the day.

The international rate of gold declined by $52 to reach $3,972 per ounce (with a premium of $20). Meanwhile, the price of silver also decreased by Rs107 to reach Rs6,242 per tola.