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Gold prices witness significant drop in local market
KARACHI (92 News) - After reaching historic highs on Wednesday, gold prices on Thursday witnessed a significant drop in the local market due to a fall in international rates.
According to the All Pakistan Gem Merchants and Jewellers Association (APGMJA), the price of 24-karat gold dropped by Rs1,000 to Rs263,000 per tola.
Similarly, the price of 10 grams of 24-karat gold decreased by Rs857 to Rs225,480 per tola.
Also Read: Gold rates dip by Rs500 per tola to Rs256,800
The decline in local prices mirrors global trends. In the international market, the gold price fell by $8 to $2,518 per ounce.
Meanwhile, the price of silver remained unchanged at Rs2,900.
Last month, the price of gold in Pakistan touched an all-time high of Rs263,700 per tola.
Industry experts attribute the fluctuations in gold prices to global economic uncertainty and changes in international market.