Gold price drops by Rs11,300 per tola in Pakistan

Business Recorder reported that gold became cheaper across Pakistan on Wednesday, following a slide in international prices. The price of a tola dropped by Rs11,300 during the day, bringing it to Rs454,036 in the domestic market. Rates released by the All-Pakistan Gems and Jewellers Sarafa Association placed 10-gram gold at Rs389,262, a fall of Rs9,688.

On Tuesday, a tola was priced at Rs465,336 after a Rs800 drop, so the latest decline was considerably larger. The global benchmark slipped $113 to $4,315 per ounce, with a $20 premium included. Silver prices also eased, with a tola now costing Rs6,859 after a Rs270 reduction.

The association's figures cover tola, 10-gram and ounce measures, giving a clear view of both domestic and international rates. The report notes that all of these rates moved lower within a single trading day.