Gold Loses Shine as Prices Drop in Pakistan

Gold prices in Pakistan fell on Thursday following a drop in the international bullion market. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that the price of gold per tola decreased by Rs2,000, settling at Rs353,000.

The price of 10-gram gold also saw a decline of Rs1,714, reaching Rs302,641. The fall in local prices came just a day after gold had seen a modest increase of Rs300, pushing the rate to Rs355,000 on Wednesday.

Market experts linked the decline to a drop in global gold prices, which stood at $3,303 per ounce, down by $20. The association noted that this international rate included a premium of $20.

Silver also saw a downward trend. The price per tola of silver dropped by Rs63, now priced at Rs3,900.