Gold plunges below PKR 500,000 as global market dips

Global gold slips USD 243, silver also sees significant drop

Gold prices continued their volatile trend with a sharp decline in international bullion pushing the local market below the PKR 500,000 threshold igniting renewed interest among investors and buyers.

According to the All Pakistan Gems and Jewelers Association, the price of one tola of gold dropped significantly by PKR 24,300, settling at PKR 499,462, while 10 grams of gold fell by PKR 20,833 to PKR 428,208.

In the international market, gold lost USD 243, closing at USD 4,767 per ounce, whereas silver also softened, declining PKR 760 per tola to PKR 7,734.

Market analysts suggest that the dip presents a potential buying opportunity for investors, as global fluctuations continue to impact domestic gold and silver rates.