KARACHI: The prices of gold in Pakistan plunged by Rs.4600 per tola and Rs. Rs3,940 per 10 grams on Thursday.
After depreciation, the yellow metal prices settled at Rs140,700 per tola and Rs120,628, per 10gram.
The decline was in line with the dealers’ expectation of the market to undergo a correction after scaling to new peaks in previous sessions.
Cumulatively, the price of gold plummeted by Rs6,550 per tola in the last three sessions (Tuesday-Thursday).
Meanwhile, the yellow metal stayed above the key $1,800-per-ounce level in the international market with a decrease of $8. The price settled at $1,831.
Gold rates in Pakistan are around Rs5,000 below the cost compared to the rate in the Dubai market.
Meanwhile, silver prices in the domestic market remained unchanged at Rs1,560 and Rs1,337.44 today.