Pakistan’s gold market saw a massive drop on Monday, after six days of a consecutive hike in rate.
Gold became cheaper across Pakistan as the price of 24-karat gold per tola fell by Rs5,500, bringing the new rate to Rs470,162 according to the All Pakistan Sarafa Gems and Jewellers Association.
Similarly, the price of 10 grams of 24-karat gold dropped by Rs4,715, settling at Rs403,088. The price of 10 grams of 22-karat gold also declined by Rs4,323 to be sold for Rs369,510.
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International gold prices
The downward movement was not limited to Pakistan. In the global bullion market, gold fell by $55, reaching $4,478 per ounce.
Silver prices in Pakistan
Silver prices also followed the same trend. The price of 24-karat silver per tola dropped by Rs332 to be sold for Rs8,075, while 10 grams of silver also saw a decline of Rs284 to be sold at Rs6,923.
