Due to a sharp decline in the domestic and global markets, the price of 24-karat gold per tola has significantly decreased by Rs 5,000 – a major downturn was observed in the local Sarafa market on Thursday, where.
According to data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), after this significant decrease, the new price of 24-karat gold per tola has become Rs 426,562.
Similarly, the price of 10 grams of 24-karat gold also saw a clear reduction of Rs 4,286, after which its new price became Rs 365,708. The price of 10 grams of 22-karat gold also decreased by Rs 3,929, bringing its price to Rs 335,244.
This downturn in the local market was due to a fall in the global market, where the international price of gold closed at $4,042, down by $50 per ounce.
Silver prices also could not escape the market pressure and a decrease was recorded in them as well. The price of 24-karat silver per tola decreased by Rs 93 to become Rs 5,329.
Additionally, the price of 10 grams of 24-karat silver fell by Rs 80 to Rs 4,568. A decrease was also seen in the international market for silver, where its value per ounce fell by $0.93 to $50.57.