KARACHI — Gold prices in Pakistan plunged by Rs8,900 per tola on Tuesday, marking a sharp single-day decline as global bullion rates moved lower, according to the All Pakistan Sarafa Gems and Jewellers Association.

The new gold price stands at Rs485,062 per tola, while the rate for 10 grams fell by Rs7,630 to Rs415,862, reflecting the impact of international market trends on domestic pricing.

In global markets, gold prices dropped by $89 per ounce to $4,627, contributing to the downward adjustment in local rates.

Silver prices also declined, with the per tola rate falling by Rs38 to Rs7,811.

The latest drop highlights the sensitivity of Pakistan’s bullion market to international price movements, with local rates closely tracking global trends.

Also read: Gold prices jump in Pakistan as global rates rebound after days of decline