Gold price tumbles by Rs10,600 in local market

Gold prices in Pakistan saw a sharp correction on Saturday, as the rate per tola fell by Rs10,600, bringing it down to Rs446,300, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Just a day earlier, the yellow metal had been trading at Rs456,900 per tola, before today’s sudden dip broke its recent upward streak. The decline comes after several says of continued gains in gold prices in local markets.

The All Sindh Sarafa Gems and Jewelers Association said that the price of 10 grams of gold also decreased by Rs 8,331, bringing the new price to Rs 382,630.

In the international market, gold also witnessed a drop of $106, reaching $4,252 per ounce.

Silver rates followed a similar trend, with 24-karat silver sliding by Rs231 to Rs5,273 per tola, and 10 grams of silver now costing Rs4,520.