Gold becomes cheaper by Rs1,000 per tola in Pakistan

Gold continued its downward trend on Wednesday, marking the second straight day of losses in Pakistan’s bullion market. The All Pakistan Gems and Jewellers Association reported that the latest dip followed similar decreases in global prices.

In the local market, the rate of 24-carat gold dropped by Rs1,000 per tola, settling at Rs419,362, while the price for 10 grams of gold slipped by Rs857 to Rs359,535.

Meanwhile, silver prices held steady, with a tola priced at Rs5,022 and 10 grams at Rs4,305.

The yellow metal lost ground globally, declining by $10 to reach $3,970 per ounce.

A day earlier, on Tuesday, gold had already fallen by Rs3,500 per tola in the domestic market and $35 per ounce internationally.