Gold Prices Register Significant Decline Across Local and International Markets After Brief Rebound; Per Tola Rate Drops to Rs438,636
KARACHI: Reversing course following a brief upward correction, precious metal prices recorded a sharp decline across both domestic and international markets.
According to data released by the All Pakistan Sarafa Association, the price of 24-karat gold in domestic markets decreased by Rs3,000, bringing the new price down to Rs438,636 per tola.
Breakdown of Local and International Precious Metal RatesDomestic 24K Gold (10 Grams):
The price of 10 grams of 24-karat gold registered a notable drop of Rs2,572, settling at Rs376,059. Silver Rates: Local silver prices also trended downward, with the price per tola decreasing by Rs50 to stand at Rs6,528.
International Market Trend: In the global market, international spot gold declined by $30, bringing the per-ounce rate down to $4,161. Market analysts attribute the downward correction to profit-taking and shifting global commodity trends.