Gold Prices Plummet by Rs3,000 in Pakistan as International Rates Decline
Meanwhile, silver prices remained stable at Rs3,050 per tola.
In a significant shift, gold prices in Pakistan witnessed a steep decline on Wednesday, dropping by Rs3,000 to settle at Rs271,700 per tola.
This decrease aligns with a broader drop in international gold rates, reflecting changing market dynamics.
The price for 10 grams of gold also saw a reduction, falling by Rs2,572 to reach Rs232,939, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Just a day earlier, gold prices had already begun their downward trend, having decreased by Rs1,000 to close at Rs274,700.
The international gold market mirrored this decline, with prices falling to $2,617 per ounce, including a $20 premium, marking a $30 reduction for the day.
Meanwhile, silver prices in Pakistan remained stable at Rs3,050 per tola.
It’s worth noting that last month, gold prices peaked at an all-time high of Rs277,000 per tola in Pakistan, highlighting the recent volatility in the market.