Gold price drops by Rs2,000 per tola to Rs215,300

On Wednesday, the domestic bullion market experienced a notable decline, influenced by a drop in international prices. 

In Pakistan, the price of 24-karat gold plunged by Rs2,000 per tola, reaching Rs215,300.

The Karachi Sarafa Association reported a decrease of Rs1,715 in the price of 10-gramme 24-karat gold, standing at  Rs184,585. 

Additionally, the price of 10-gramme 22-karat gold dipped to Rs169,203 compared to Rs170,775 on Tuesday.

Silver prices also witnessed a downturn in the domestic market, with 24-karat silver selling at Rs2,600 per tola and Rs2,229.08 per 10-gramme, reflecting declines of Rs50 per tola and Rs 42.86 per 10-gramme, respectively.

On the global stage, international spot gold experienced a $6, or 0.31 per cent, decrease, currently trading at $2,021.77 [02:46 pm PST]. 

This follows a $26 or 1.27 per cent decline yesterday, contributing to the overall impact on the domestic bullion market.