Gold Loses Shine as Price Plummets by Over Rs. 8,000 Per Tola in Two Days

The price of 24 karat per tola gold decreased by Rs. 2,300 and was traded at Rs. 356,700 on Friday as against its sale at Rs. 359,000 the previous day, All Pakistan Sarafa Gems and Jewelers Association reported. The price of gold in Pakistan fell by Rs. 5,900 per tola yesterday, today’s decrease takes the two-day decline in price to Rs. 8,200 per tola. The prices of 10 grams of 24 karat also decreased by Rs. 1,972 to Rs. 305,812 from Rs. 307,784 whereas that of 10 grams of 22 karat gold went down by Rs. 1,808 to Rs. 280,337 from Rs. 282,145. However, the rates of per tola and ten-gram silver decreased by Rs. 34 and Rs. 39 to Rs. 4,023 and Rs. 3,449 respectively. The price of gold in the international market decreased by $23 to $3,340 from $3,363, whereas that of silver decreased by $0.34 to $38.74 from $39.08, the Association reported.