KARACHI – Gold prices in Pakistan have witnessed a decline after hitting record levels in line with downward trend in international market.
Data shared by All Pakistan Gems and Jewellers Association showed the price of gold dropped by Rs800 per tola, bringing it down to Rs505,562.
Similarly, the price of 10 grams of gold decreased by Rs686, reaching Rs433,437.
In the global market, gold also saw a decrease, falling by $8 per ounce, with its new price now standing at $4,832 per ounce.
On Wednesday, gold prices in Pakistan soared to record-breaking levels, surpassing the Rs500,000 mark per tola for the first time ever, amid rising global financial uncertainties.
Market reports indicate that the price of gold surged by Rs12,700, reaching Rs506,362 per tola. Meanwhile, the cost of 10 grams of gold rose by Rs10,888, settling at Rs444,123.
Meanwhile, the Pakistani rupee recorded marginal gain against the US dollar in the inter-bank market.
At close on Wednesday, the local currency settled at 279.90, a gain of Re0.01 against the greenback.
