KARACHI: Gold prices in Pakistan plunged on Thursday, tracking a sharp decline in the international market. The per-tola price fell by Rs10,900 to Rs416,536.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 10 grams dropped by Rs9,345 to Rs357,112. International gold prices, meanwhile, declined by $109 to $3,940 per ounce.
The latest losses followed a drop on Wednesday, November 11, when the per-tola rate fell by Rs3,400 to Rs427,436 and the price of 10 grams decreased by Rs2,915 to Rs366,457.
Gold prices in domestic and global markets respond to several factors, including US dollar movements, economic uncertainty, geopolitical tensions and investor sentiment. Investors often seek gold as a safe-haven asset during periods of political and economic instability, while shifts in global demand and the rupee-dollar exchange rate also influence prices in Pakistan.
