Gold prices drop Rs12,800 per tola
Gold prices in Pakistan have dropped significantly following a decline in international bullion rates. The All Pakistan Sarafa Gems and Jewellers Association reported a decrease of Rs12,800 per tola, aligning local market prices with global trends.
Why it matters
Fluctuations in gold prices significantly impact the purchasing power and investment landscape for consumers in Pakistan, reflecting broader global economic instability.
An undated image of gold bangles and a choker is displayed at a store. — AFP
KARACHI: Gold prices fell by Rs12,800 per tola on Monday, following a decline in the international bullion rates. The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) said 24-karat gold dropped to Rs438,136 per tola, while the price of 10-gram gold fell Rs10,973 to Rs375,631.The prices dropped by $128 in the international market, where gold settled at $4,156 per ounce. Local prices in Pakistan are typically benchmarked to global rates with a premium of $20 per ounce.Silver rates decreased by Rs325 to Rs6,578. The 10-gram rate also dropped by Rs279 to Rs5,639.
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