Gold prices plunge by Rs14,900 per tola in Pakistan

Gold prices saw a sharp decline in Pakistan on Friday, following a major drop in the international market.

In the local market, the price of gold per tola fell by Rs14,900 to settle at Rs438,036. Similarly, the price of 10 grams of gold dropped by Rs13,410 to Rs374,205, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

A day earlier, gold prices had declined by Rs2,300 per tola to reach Rs452,963.

In the international market, gold prices fell by $149 to settle at $4,156 per ounce, including a premium of $20.

Meanwhile, silver prices also recorded a major decline, dropping by Rs413 per tola to settle at Rs6,946.