Gold prices in Pakistan continue their downward spiral, marking the fourth consecutive session of decline, mirroring the international trend. The local market witnessed a significant drop, with the price per tola plummeting by Rs900 to Rs241,000.
The All Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that the price of 10-gram gold also dipped to Rs206,619 after a decrease of Rs771. This decline follows Tuesday’s substantial loss of Rs2,000 per tola.
Internationally, the price of gold experienced a downturn, settling at $2,308 per ounce (with a premium of $20) after a daily loss of $8. Notably, gold markets remained closed on Wednesday due to Labor Day, rendering rates unavailable for that day.
In addition to gold, silver rates also witnessed a decline, dropping by Rs10 to reach Rs2,620 per tola. Over the course of four sessions, the price of gold per tola has dwindled by a total of Rs4,000 in Pakistan.
This downturn comes after gold reached a historic peak of Rs252,200 per tola last month, underscoring the volatility and fluctuation in precious metal markets.
