Karachi (Web Desk): A significant drop in gold prices has been recorded in Pakistan. According to a statement issued by the Jewelers Association, the price of one tola of gold has decreased by 2,700 rupees, bringing it down to 444,162 rupees. Similarly, the price of 10 grams of gold has dropped by 2,315 rupees, now standing at 380,797 rupees.
Meanwhile, on the global market, the price of one ounce of gold has decreased by 27 dollars, reaching 4,218 dollars.
On the other hand, silver prices have been on the rise. In the interbank market, the price of one tola of silver has crossed the 6,000 rupee mark, increasing by 41 rupees to 6,004 rupees.
According to a report by the World Bank, the rise in silver prices is due to growing industrial demand, with silver being increasingly used in solar panels, electric vehicles, and semiconductors.
Experts believe that the increasing trend of citizens investing in silver is contributing to the growth of the black market, and the decrease in gold prices is further boosting the demand for silver.