Gold prices plunge in Pakistan and global markets

Author: Agencies

Gold prices dropped sharply in both global and Pakistan markets, reflecting broader market trends. In the international bullion market, the price per ounce of gold fell by $43, reaching $2,672. This global drop affected local prices in Pakistan, where the rate per tola (11.66 grams) of 24-karat gold decreased by Rs4,300, settling at Rs278,400. Additionally, the price for 10 grams of 24-karat gold fell by Rs3,657, ending at Rs238,683.

Silver prices also saw a reduction in the local market, with a per-tola price cut by Rs50, bringing it to Rs3,400. The rate for 10 grams of silver declined by Rs42.87.

The decline in gold and silver prices comes amid market volatility, offering some respite to buyers amid a previous high in metal costs.

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