Gold prices drop by thousands, silver hits record high

Karachi  (Web Desk): After reaching a peak, gold prices have fallen by thousands of rupees today, while silver prices have surged to their highest level ever.

According to the All Pakistan Sarafa Gems and Jewelers Association and the official news agency APP, the price of 24-carat pure gold per tola dropped by Rs. 4,578, closing at Rs. 420,600. This comes after gold had closed at a record high of Rs. 425,178 the previous day.

Similarly, the price of 24-carat gold per 10 grams fell by Rs. 3,924 to Rs. 360,597, down from Rs. 364,521 recorded the day before. The rate for 22-carat gold per 10 grams stood at Rs. 330,547.

In the international market, gold prices declined by $44, settling at $3,995 per ounce.

Meanwhile, silver prices continued their upward trend and reached a historic high. The price of 24-carat silver per tola increased by Rs. 34, reaching Rs. 5,100, while 24-carat silver per 10 grams rose by Rs. 29.42 to Rs. 4,372.

Silver prices in the global market were recorded at $50.13 per ounce.