Gold rate declines by Rs1,000 per tola

KARACHI: Gold prices in Pakistan continued their downward trend for the second consecutive session on Saturday, reflecting the decrease in international rates.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs1,000, bringing it to Rs250,000.

Similarly, the price of 10-gramme gold saw a decrease of Rs857, selling at Rs214,335. This follows a significant drop on Friday when the gold price per tola decreased by Rs3,000.

In the international market, the price of gold also fell on Saturday. The APGJSA reported that gold was priced at $2,400 per ounce, including a $20 premium, after losing $15 during the day.

Contrary to the trend in gold prices, silver rates in the local market experienced an increase. The price of silver per tola rose by Rs70, reaching Rs2,920.

On Thursday, gold prices had surged to an all-time high of Rs254,000 per tola in the local market, marking an increase of Rs4,600 in a single day.

The fluctuations in gold and silver prices reflect the ongoing volatility in the precious metals market, influenced by global economic conditions and investor sentiment.