KARACHI: Gold prices in Pakistan witnessed a sharp decline on Wednesday, with the price of 24-karat gold falling by Rs10,000 per tola, according to the All Pakistan Sarafa Gems and Jewellers Association.
The new price of gold per tola was recorded at Rs539,962, compared to Rs549,962 in the previous trading session.
Gold Rates in Pakistan
24-karat gold (per tola): Rs539,962 (down Rs10,000)
24-karat gold (10 grams): Rs462,930 (down Rs8,573)
22-karat gold (10 grams): Rs424,367 (down Rs7,859)
Silver Prices
Silver prices, however, moved in the opposite direction.
Silver (per tola): Rs9,004 (up Rs100)
Silver (10 grams): Rs7,719 (up Rs86)
International Market Trend
Globally, gold prices also declined as the international gold rate dropped by $100, falling to $5,172 from $5,272 per ounce.
Meanwhile, silver prices in the global market increased by $1, reaching $85.20 from $84.20.
Market analysts say fluctuations in global bullion markets and investor sentiment continue to influence gold prices in Pakistan.