A rapid decrease in gold prices was observed today in Pakistan’s jewelry market, with rates falling by 5,200 rupees per tola, reflecting the slump in the global market.
The All Pakistan Sarafa Jewelers Association reported that the per tola price of 24-carat gold has now reached 419,636 rupees. This significant decrease reflects broader international trends, as the global gold price dropped by 52 dollars per ounce to 3,972 dollars.
The price of 10 grams of 24-carat gold also decreased, now priced at 359,770 rupees, a reduction of 4,458 rupees.
Silver prices were not exempt from this decline. The per tola price of silver decreased by 107 rupees, now priced at 6,242 rupees.
These changes in the bullion market indicate broader economic conditions affecting precious metals, impacting local price dynamics in Pakistan.