Gold prices in Pakistan fell sharply on Friday, with the price of 24-karat gold per tola dropping by Rs6,500 to Rs429,136 in the domestic market. The All Pakistan Sarafa Gems and Jewellers Association issued the rates, which also showed lower prices for silver and for gold in the international market.
Local rates
For 24-karat gold, the price of 10 grams fell by Rs5,573 to Rs367,914. The 22-karat rate for 10 grams declined by Rs5,109 to Rs337,266. Karat measures how pure gold is, with 24-karat being the purest form, while a tola is a traditional unit of weight used for gold in Pakistan.
Silver also moved down. The price of 24-karat silver per tola fell by Rs85 to Rs5,678, and 10 grams of 24-karat silver dropped by Rs73 to Rs4,867.
Global prices and differing figures
The association said international gold fell by $65 to $4,066 an ounce. Another market post on social media put the global price at $4,074 an ounce, with a fall of 0.96 per cent on the day, so the two figures do not match. Reports said the local decline followed a drop in the international market.
The association added that international silver fell by $0.85 to $52 an ounce. Local rates are updated as the market moves, so buyers should check the latest figure with a dealer before making a purchase.
Timeline: what has happened so far
- Thursday: gold prices in Pakistan rose, reports say, a day before the decline.
- Friday: 24-karat gold per tola fell by Rs6,500 to Rs429,136, according to the association.
- Friday: 10 grams of 24-karat gold fell by Rs5,573 to Rs367,914, and 22-karat by Rs5,109 to Rs337,266.
Aasan alfaaz mein
Pakistan mein 24 karat sona Friday ko aik tola ke liye Rs6,500 sasta ho kar Rs429,136 ka ho gaya hai. Ye giravat bain-al-aqwami mandi mein sona sasta hone ke baad aayi hai. Chandi bhi thodi sasti hui hai. Agar aap sona kharidne ka soch rahe hain to dukan se taaza rate zaroor poochein, kyun ke rates badalte rehte hain.
