Gold prices drop in Pakistan as global rates decline

KARACHI: Gold prices fell in Pakistan on Tuesday, tracking declines in international markets, with the price of 24-karat gold dropping by Rs1,200 per tola to Rs498,962.

The price of 10 grams of gold also declined by Rs1,029 to Rs427,779 in the local market.

Globally, gold prices slipped as well. In the international bullion market, the price of gold fell by $10 per ounce to settle at $4,778.

Following the global trend, prices in Pakistan’s local bullion markets declined during the second trading day of the week.

Silver prices also edged lower in the local market, with per tola rates falling by Rs59 to Rs8,358, and 10 grams declining by Rs51 to Rs7,165.