Gold price drops by Rs3,500 per tola in Pakistan

Business Recorder reported that gold prices in Pakistan fell on Thursday, moving in step with losses in the international market. A tola of gold was quoted at Rs483,036 locally after a Rs3,500 drop during the day. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) supplied the figures, which put ten grams at Rs414,125 after a Rs3,001 fall.

The market had priced a tola at Rs486,536 on Tuesday after a Rs600 decline, and it stayed shut on Wednesday for the Eid-Mild-un-Nabi holiday. Overseas, gold slipped $35 to $4,605 per ounce, with a premium of $20 noted. Silver bucked the trend, gaining Rs50 to reach Rs7,329 per tola.

The report presents the local gold decline alongside the overseas fall and lists the silver increase separately. Figures are quoted per tola and per ten grams, while the international rate is given per ounce.