Gold Crashes Again After Explosive Spell
Gold price in Pakistan dropped by Rs. 6,500 per tola on Friday, reversing much of Thursday’s sharp rise as global … Read More The post Gold Crashes Again After Explosive Spell appeared first on ProPakistani .
The price of gold in Pakistan plummeted by Rs. 6,500 per tola on Friday, halting much of the sharp increase seen on Thursday. The local rate closed at Rs. 429,136 per tola, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Ten grams of 24-karat gold plunged by Rs. 5,573 to Rs. 367,914. The day before, gold had surged significantly, with the per-tola rate rising Rs.
9,600 to Rs. 435,636. Friday's decline erased the majority of that one-day gain. The global gold rate mirrored the decline, falling by $65 to $4,066 per ounce. Silver also experienced a price drop, falling by Rs. 85 to Rs. 5,678 per tola. For those purchasing jewelry or investment gold, this represents a Rs. 6,500 reduction per tola compared to Thursday's closing price.
However, the market remains highly volatile, with rates capable of shifting thousands of rupees either way within a single day. When buying, it is advisable to compare rates across Sarafa shops and verify the APGJSA quote before finalizing a purchase. For further details on recent movements, refer to the account of gold's largest single-day jump in weeks earlier this month.
Written by urgent.news from ProPakistani's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
