Gold price drops by Rs600 in Pakistan

Gold prices in Pakistan went down slightly on Wednesday, just a day after a big increase was seen. This drop follows a similar trend in the international gold market.

In the local market, the price of gold per tola fell by Rs600, bringing it down to Rs356,200. The price of 10 grams of gold also decreased by Rs514, now standing at Rs305,384, as reported by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).

This comes after a sharp increase on Tuesday, when gold prices had jumped by Rs6,600 per tola, reaching Rs356,800.

Globally, gold prices also dropped. The international rate fell by $6, reaching $3,342 per ounce, which includes a $20 premium.

Silver prices in the local market also went down by Rs18, now priced at Rs3,816 per tola.

The slight decline in gold and silver rates gives some relief to buyers after the sharp increase earlier this week.

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