Gold price falls by Rs2,200 per tola from record high

KARACHI: After a series of record-breaking highs last week, gold prices in Pakistan saw a decline on Thursday, even as international rates edged higher.

In the local market, the price of gold per tola fell by Rs2,200, bringing it down to Rs261,500, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The price for 10 grammes of gold also dropped, decreasing by Rs1,886 to settle at Rs224,194.

This drop follows Saturday’s record high when gold prices in Pakistan reached Rs263,700 per tola after a gain of Rs1,700.

Contrary to the trend in Pakistan, international gold prices saw a modest increase on Thursday. The APGJSA reported that the global rate of gold rose by $4 to $2,516 per ounce, including a $20 premium.

Meanwhile, silver prices in Pakistan remained stable, with the rate holding steady at Rs2,950 per tola.

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