Gold Price Drops Below Rs. 350,000 Per Tola After Hitting Record High Earlier in the Week

The price of 24 karat gold witnessed decrease of Rs. 3,300 per tola and was sold at Rs. 348,700 on Friday against its sale at Rs.352,000 on the last trading day, All Pakistan Sarafa Gems and Jewelers Association reported. The price of the yellow metal had hit an all-time high of Rs. 363,700 earlier in the week but has since declined. The prices of 10 grams of 24 karat also decreased by Rs. 2,833 to Rs. 298,950 from Rs. 301,783 whereas that of 10-gram 22 Karat went down by Rs. 2,597 to Rs. 274,047 from Rs. 276,644. The rates of per tola and ten-gram silver decreased by Rs.40 and Rs.35 and were traded at Rs.3,497 and Rs.2,998 respectively. The price of gold in the international market decreased by $.33 $3,305 from $3,338 whereas silver rates went up by $0.40 to $33.33 from $32.93, the Association reported.