ISLAMABAD: Gold prices in Pakistan plunged by Rs4,700 in a single day, settling at Rs455,562 in the local market.
| Metal | Unit | Latest Price | Change |
|---|---|---|---|
| Gold | Per Tola | 455,562 | ▼ 4,700 |
| Gold | 10 Grams | 390,570 | ▼ 4,030 |
| Silver | Per Tola | 7,756 | ▼ 106 |
The decline was equally evident in 10-gram gold rates, which dropped by Rs4,030 to close at Rs390,570, according to figures released by Sarafa Association.
| Gold Rate | 22K | 21K | 18K |
|---|---|---|---|
| Per Tola | 427,166.67 | 407,750 | 349,500 |
| Per 1 Gram | 36,623.58 | 34,958.88 | 29,964.75 |
| Per 10 Gram | 366,235.83 | 349,588.75 | 299,647.50 |
| Per Ounce | 1,038,015 | 990,832.50 | 849,285 |
This sudden drop comes just a day after gold had staged a strong rally on Friday, when prices jumped by Rs5,700 per tola to reach Rs460,262, highlighting intense volatility in the precious metals market.
Globally, gold prices also faced pressure, falling by $47 to trade at $4,332 per ounce, inclusive of a $20 premium.
Silver was not spared either, as its price declined by Rs106, bringing the rate down to Rs7,756 per tola in the domestic market.
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