Gold prices decline in Pakistan

KARACHI: Gold prices in Pakistan continued its downward trajectory on Wednesday, in line with a decrease in international rates. In the local market, the price per tola fell by Rs500, settling at Rs255,500.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10-gram gold lowered by Rs429, bringing it to Rs219,050.

On Tuesday, the price of gold per tola decreased by Rs500.

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Internationally, gold prices dropped on Wednesday. The APGJSA reported that the global rate was $2,393 per ounce (including a $20 premium) after it lost $17 during the day.

On the other hand, silver rates remained steady at Rs2,850 per tola.

Last week, the price of gold per tola increased by Rs2,400, to hit an all-time high level of Rs257,300.