Gold prices drop by Rs 900 per tola in Pakistan on 16 August

Gold prices in Pakistan continued to fall for the sixth straight day on Saturday, the last trading day of the week. The drop came both in the local and global markets.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by Rs900, reaching Rs356,200. The price of 10 grams of 24-karat gold also went down by Rs771, settling at Rs305,384.

In the international market, gold prices saw a smaller decrease. The price per ounce dropped by $9, bringing it down to $3,335.

Silver prices in Pakistan also faced a decline. The rate of 24-karat silver per tola decreased to Rs4,031. The price for 10 grams of silver dropped to Rs3,455.

This continued fall in gold prices over the past week has caught the attention of investors and buyers. Many are now considering this a potential opportunity to buy gold at a lower rate before prices rise again.