KARACHI: Gold prices continued its losing streak and dropped Rs8,700 per tola on Saturday following a significant decline in international bullion rates.
The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) said 24-karat gold fell to Rs524,562 per tola, while the price of 10-gram gold declined by Rs7,459 to Rs449,727.
The prices dropped by $87 in international markets, where gold settled at $5,018 per ounce. Local prices in Pakistan are typically benchmarked to global rates with a premium of $20 per ounce.
Silver also retreated, with the per-tola price falling Rs310 to Rs8,541. The 10-gram rate declined Rs266, closing at Rs7,322.
