Gold prices record massive drop in Pakistan

Gold prices in Pakistan saw a sharp decline on Thursday, in line with the drop in international rates. The price of gold per tola (11.66 grams) fell by Rs5,500, settling at Rs266,400.

Similarly, the price of gold per 10 grams decreased by Rs4,716, bringing it to Rs228,395, according to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).

This decline comes after a rise in gold prices on Wednesday, when the price per tola had increased by Rs1,400 to reach Rs271,900.

On the international front, the price of gold also decreased on Thursday. The international rate was recorded at $2,552 per ounce, with a premium of $20, marking a $55 drop from the previous day’s rate, according to APGJSA.

While gold prices dropped, silver rates remained unchanged, holding steady at Rs3,250 per tola.

In recent weeks, gold prices in Pakistan have experienced significant fluctuations. Last month, the price of gold reached an all-time high of Rs287,900 per tola, driven by global market trends and domestic economic factors.

Market analysts suggest that gold prices could continue to fluctuate based on international price movements and local market conditions.