KARACHI: Gold prices in Pakistan witnessed the largest single-day decline in the country’s history, according to data released by the All Pakistan Gems and Jewellers Association (APGJA).
The association said the price of one tola of gold fell by Rs35,500, bringing it down to Rs537,362 per tola.
Similarly, the price of 10 grams of gold dropped by Rs30,435 to Rs460,701.
In the international market, gold prices also saw a sharp decline, falling by $355 to $5,150 per ounce.
It is worth noting that gold prices had surged by more than Rs42,000 over the past two days, making the latest drop one of the sharpest reversals seen in the local bullion market.
Market analysts say volatility in global prices and investor sentiment continues to impact gold rates in Pakistan.