Gold prices plunge globally, locally

Price per tola falls by Rs7,538

Gold prices record a major decline in local and international markets

In the international bullion market, the price of gold dropped sharply by $85 per ounce, settling at $4,150.

In the local market, the price of gold per tola fell by Rs7,538, reaching Rs437,362, while the price per 10 grams decreased by Rs6,463 to Rs343,732.

Read: Gold drops by Rs1,400 per tola in Pakistan, silver also slips

Spot gold was up 0.6% at $4,146.47 per ounce, as of 0636 GMT. Bullion fell more than 5% on Tuesday in its steepest drop since August 2020.

Elsewhere, spot silver rose 1% to $49.21 per ounce, platinum fell 1.1% to $1,535.05 and palladium gained 1.4% to $1,427.84.

Earlier on Saturday, gold prices declined sharply in international and domestic markets.

According to market reports, the international bullion price fell by $106 per ounce to $4,252.

In Pakistan, the price of gold per tola drops by Rs10,600 to Rs446,300, while the rate for ten grams falls by Rs9,088 to Rs382,630.