Karachi (Web Desk): The price of 24-karat gold in Pakistan experienced a sharp decline on Tuesday, dropping by Rs9,000 to reach Rs514,762 per tola, compared to Rs523,762 recorded the day before, the All Pakistan Sarafa Gems and Jewellers Association said.
In line with this, 10 grams of 24-karat gold also became cheaper, falling Rs7,716 to Rs441,325 from Rs449,041. The cost of 10 grams of 22-karat gold followed the same trend, decreasing by Rs7,073 to settle at Rs404,562 from Rs411,635.
Silver prices also eased, with the per tola rate falling Rs150 to Rs8,014 and the 10-gram rate slipping Rs129 to Rs6,870.
The international market reflected a similar pattern, as gold lost $90, trading at $4,920 per ounce against $5,010 previously, while silver dipped by $1.50 to $75.30 per ounce, the Association added.