KARACHI: Pakistan’s gold market experienced a surprising downturn on Thursday, with prices dropping despite international rates ticking upwards.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola plummeted by Rs2,200, settling at Rs261,500. Similarly, the price for 10 grams of gold fell by Rs1,886, bringing it down to Rs224,194.
This decline comes on the heels of a record-breaking high on Saturday when gold prices in Pakistan soared to Rs263,700 per tola.
In contrast, international gold prices saw a modest increase on Thursday, rising by $4 to $2,516 per ounce, with a $20 premium.
Meanwhile, silver prices in Pakistan remained steady, holding firm at Rs2,950 per tola. The APGJSA reported that the stability in silver prices provided a contrast to the volatility seen in the gold market.
