Gold price per tola drops Rs3,500 in Pakistan

Business Recorder reported that gold rates in Pakistan moved lower on Thursday, tracking losses in global bullion trade. The price of one tola fell by Rs3,500 during the day to Rs483,036, according to the report. Ten-gram gold changed hands at Rs414,125 after shedding Rs3,001, based on figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Prices had been higher earlier in the week, when a tola was priced at Rs486,536 on Tuesday after a Rs600 fall. The gold market was shut on Wednesday for the Eid-Mild-un-Nabi holiday. Internationally, the ounce rate slipped by $35 to $4,605, with a $20 premium noted alongside it.

The report also noted that silver bucked the downtrend, climbing Rs50 to Rs7,329 per tola. Gold and silver therefore moved in different directions on the same day.