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Saturday, November 02, 2024  
29 Rabi Al-Akhar 1446  

Gold prices drop in both local, international markets

The price of gold per tola dropped by Rs2,500
The picture shows gold bars and coins. Photo via AFP
The picture shows gold bars and coins. Photo via AFP

Gold prices in Pakistan experienced a notable decline on Friday, mirroring a decrease in international rates.

The price of gold per tola dropped by Rs2,500, settling at Rs284,700 in the local market.

In addition, the price for 10 grams of gold fell by Rs2,144, bringing it to Rs244,084, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This follows a decrase of Rs700 on Thursday, when the price per tola was recorded at Rs287,200.

The international gold rate also saw a reduction, with APGJSA reporting a price of $2,752 per ounce (including a $20 premium), down by $25 during the day.

In related market activity, silver prices fell by Rs20, concluding the day at Rs3,430 per tola.

Read more

Gold prices see massive increase in Pakistan

Why gold prices reaching all-time highs?

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Notably, just earlier this week, gold reached an all-time high of Rs287,900 per tola in Pakistan. The recent fluctuations in gold and silver prices reflect ongoing volatility in the global market.

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