Gold price decreases by Rs10,600 per tola in Pakistan

Karachi (Web Desk): Gold witnessed a significant downturn in domestic and global markets on Saturday, as its value dropped steeply across various categories.

As per figures released by the All Pakistan Sarafa Gems and Jewelers Association (APSGJA), the price of 24-karat gold per tola declined by Rs10,600, reaching Rs446,300, compared to Rs456,900 on the previous trading day.

Likewise, the rate for 10 grams of 24-karat gold decreased by Rs9,088 to stand at Rs382,630, down from Rs391,718. The price of 10 grams of 22-karat gold also slipped by Rs8,331, falling to Rs350,756 from Rs359,087.

Internationally, the bullion market mirrored the local trend, as global gold prices plunged by $106, settling at $4,252 per ounce against $4,358 on the preceding day.

Silver too followed the same downward trajectory. The rate for a tola of 24-karat silver dropped by Rs231 to Rs5,273 from Rs5,504, while the price of 10 grams went down by Rs198 to Rs4,520 from Rs4,718.

On the world market, silver prices also recorded a fall of $2.31, slipping to $51.86 per ounce, according to the association.