Gold price declines by Rs1,400 in Pakistan amid global downturn

WEB DESK: Gold prices in Pakistan experienced a decline on Saturday, following a decrease in international rates. The price of gold per tola fell by Rs1,400, bringing it to Rs241,500, according to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Similarly, the price of 10 grammes of gold decreased by Rs1,201, now selling at Rs207,047.

On the previous day, gold prices had increased, with the per tola rate rising by Rs1,600 to reach Rs242,900.

Internationally, the price of gold also dropped on Saturday. The APGJSA reported that the rate was set at $2,320 per ounce, including a $20 premium, following a $43 decline.

In contrast, silver prices saw a slight increase. The price per tola of silver rose by Rs100, reaching Rs2,850.

In April, gold prices in the local market had reached an all-time high of Rs252,200 per tola.