Gold price per tola drops Rs800 in Pakistan

Business Recorder reported that local gold rates moved lower on Tuesday, tracking a slide in global bullion values. According to the All-Pakistan Gems and Jewellers Sarafa Association, one tola of gold was priced at Rs465,336 after losing Rs800 over the day. The 10-gram rate eased by Rs686 to Rs398,950.

The tola price had already dropped by Rs1,800 on Monday, when it stood at Rs466,136. Internationally, gold declined by $8 to $4,428 per ounce, and the quoted premium stood at $20. Silver also softened, sliding Rs50 to Rs7,129 per tola.

Both gold and silver were lower on the same day in the local market, according to the report. The report ties the local gold move to losses in the international market, so overseas prices remain central to the story.