Gold rates plummet as global prices drop

WEB DESK: Gold prices in Pakistan experienced a notable decline today after a brief increase yesterday. The price of gold per tola fell by PKR 2,300, bringing the new rate to PKR 442,162 per tola.

Similarly, the price of 10 grams of gold decreased by PKR 1,972, now valued at PKR 379,082. Analysts attributed the decline to a reduction in international gold rates, where prices dropped by USD 23 per ounce, bringing global gold to USD 4,198 per ounce.

Meanwhile, silver prices remained unchanged, with the rate per tola holding steady at PKR 6,072.

The fluctuation comes amid broader global market trends and investor sentiment, which continue to influence precious metal prices in Pakistan. Traders suggest monitoring international movements closely, as gold is likely to remain sensitive to changes in the global market.

This latest adjustment follows a short-lived surge in gold rates yesterday, reflecting the volatile nature of precious metal trading in both domestic and international markets.