KARACHI: Gold prices endured the third-biggest fall ever in the worldwide and local gold markets.
The All Pakistan Sarafa Gems and Jewellers Association reported a decrease of a whopping Rs9,100 in the price of 24-karat gold to Rs430,662 per tola.
The price of 10 grams of 24-karat gold decreased by Rs7,799 and finally settled at Rs369,223 in the local market. Furthermore, 10 grams of 22-karat gold were sold at Rs338,466, which was down a good Rs7,152 as compared to the previous day.
On the international front, gold slipped back by $91 to $4,083 per ounce, reflecting a persistent downward trend driven by strengthening global currencies and cautious investor sentiment.
Silver prices also followed suit. The price of 24-karat silver per tola plunged by Rs 209 to be sold at Rs 5,313, while 10 grams of silver were being traded for Rs 4,555.
