The domestic bullion market witnessed a sharp correction today as gold prices in Pakistan fell significantly, mirroring a downward trend in the international market.
According to the latest data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold dropped by over Rs. 10,000 per tola.
Domestic Market Rates
The following rates have been issued for the local market based on the interbank exchange rates.
Gold (24K) per Tola: Rs. 459,462 (Down by Rs. 10,700)
Gold (24K) per 10 Grams: Rs. 393,914 (Down by Rs. 9,174)
Gold (22K) per 10 Grams: Rs. 361,100 (Down by Rs. 8,410)
Silver (24K) per Tola: Rs. 7,930 (Down by Rs. 145)
Silver (24K) per 10 Grams: Rs. 6,798 (Down by Rs. 125)
International Market Context
The domestic slump follows a notable decline in global precious metal prices. In the international market, spot gold fell by $107, settling at $4,371 per ounce. International silver also saw a reduction of $1.45, bringing its price to $74.55 per ounce.
