KARACHI: The upward momentum in precious metal prices has abruptly reversed as both gold and silver experienced considerable drops in value across local and international markets.
As reported by the Pakistan Sarafa Association, the price of 24-carat gold per tola plummeted by Rs35,500, settling at Rs537,362.
Likewise, the rate for 10 grams of 24-carat gold took a steep fall of Rs30,435, now priced at Rs460,701.
Silver followed suit with a significant decline. The 24-carat silver price per tola decreased by Rs1,106, reaching Rs11,069.
On the global front, gold prices saw a sharp reduction of $355 per ounce, bringing the current rate down to $5,150 per ounce.
