KARACHI: Gold rates in Pakistan recorded a sharp decline on Wednesday, September 2, tracking a steep drop in international bullion prices amid persistent geopolitical uncertainty.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold fell by Rs11,300 per tola, settling at Rs454,036, compared with Rs465,336 recorded in the previous session.
The decline was also reflected in the 10-gram rate. The price of 24-karat gold dropped by Rs9,688, falling from Rs398,950 to Rs389,262.
International bullion prices slide
Gold also came under heavy pressure in global markets, with the international price declining by $113 per ounce to $4,315, down from $4,428.
The sharp movement in global bullion prices was mirrored in the domestic market, resulting in one of the more notable daily declines in gold rates.
Silver prices also fall
Silver prices followed the downward trend, with the rate falling by Rs270 per tola.
The price of silver declined to Rs6,859 per tola, compared with Rs7,129 in the previous trading session.
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