Gold price drops by Rs500 per tola in Pakistan

Gold rates in Pakistan slipped on Saturday, following weaker trends in the international bullion market, according to Business Recorder. The local price per tola fell by Rs500 during the day to Rs459,936. Per 10 grams, the metal changed hands at Rs394,320 after a Rs429 decline, based on figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Thursday, the tola price stood at Rs460,436 after a Rs3,500 drop, so the latest move was much smaller. Internationally, gold declined by $5 to $4,375 per ounce, and the quoted figure includes a $20 premium. Silver moved in the opposite direction, rising Rs13 to Rs6,949 per tola.

The Saturday fall was far smaller than the Rs3,500 decline recorded on Thursday. All local figures in the report come from rates shared by the APGJSA, while the international price is quoted in dollars per ounce.