Gold price drops for second consecutive day, now at Rs276,000 per tola

KARACHI: Gold prices in Pakistan dropped for the second consecutive day on Saturday, following a decline in international markets.

In the local market, the price of gold per tola fell by Rs700, reaching Rs276,000. Similarly, the rate for 10 grammes of gold decreased by Rs601, bringing it down to Rs236,625, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Friday, the price of gold had already decreased by Rs300, settling at Rs276,700 from a previous record high.

In the international market, gold prices also saw a reduction on Saturday, dropping by $6 to $2,657 per ounce, which includes a $20 premium, according to the APGJSA.

Meanwhile, silver prices in the local market remained unchanged at Rs3,050 per tola.

Just two days earlier, on Thursday, gold had reached an all-time high of Rs277,000 per tola in Pakistan.

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