Gold Prices Plunge in Pakistan Amid Global Decline

Gold prices in Pakistan dropped significantly on Wednesday, mirroring a downward trend in the international market.

According to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), the price of 24-karat gold per tola fell by Rs3,000, settling at Rs351,500. Similarly, the price of 10 grams dropped by Rs2,572, reaching Rs301,354.

Just a day earlier, gold had seen a gain of Rs1,500 per tola, with the rate touching Rs354,500 on Tuesday.

On the international front, gold prices also dipped. The global price of gold was reported at $3,292 per ounce, including a premium of $20. This marked a decline of $33 in global markets.

Meanwhile, silver prices remained stable at Rs3,841 per tola, with no change reported during the day.

The drop in gold prices offers some relief to local buyers and investors, while also indicating potential volatility in the precious metals market ahead.