On Wednesday, gold prices in Pakistan experienced a significant drop of Rs3,000 as global markets reflected a decline in precious metal rates.
In the local market, the price of 24-karat gold fell to Rs271,700 per tola, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Meanwhile, the cost of 10 grams of 24-karat gold decreased by Rs2,572, now priced at Rs232,939.
Internationally, gold prices also took a hit, with a decrease of $30 during the day. As reported by the APGJSA, the global price of gold is currently $2,617 per ounce.
Despite the drop in gold prices, the silver market remained steady, with silver priced at Rs3,050 per tola.
Last month, gold prices in Pakistan reached a record high of Rs277,000 per tola, driven by significant fluctuations in the international market.
