Gold Prices Drop Sharply After Sustained Rise, Rs350,000? No, Rs3,500 Per Tola Cut
Karachi: Gold prices recorded a significant decline in both international and local bullion markets, bringing some relief to buyers after a sharp rise over the past week.
According to the All Pakistan Sarafa Association, the price of gold fell by Rs3,500 per tola, bringing the price of one tola of gold down to Rs460,436.
The price of 10 grams of gold also decreased by Rs3,001, reaching Rs394,749.
In the international market, gold prices declined by $35 per ounce to $4,380.
The latest decline comes after gold prices had increased by a substantial Rs36,000 per tola over the previous seven days.
Silver Prices Also Decline
Silver prices also fell in the domestic market. The price of one tola of silver decreased by Rs175 to Rs6,936, while the price of 10 grams declined by Rs150 to Rs5,946.
In the international market, silver fell by $1.75 per ounce to $64.57.
The decline in local gold and silver prices followed fluctuations in international bullion markets.
