KARACHI – The price of gold in Pakistan dropped to Rs479,562 per tola on Wednesday as the precious metal continued its downward trend in both local and international markets.
All Pakistan Gems and Jewellers Association said that the per tola price of gold decreased by Rs5,500 in the domestic market.
Similarly, the rate of 10 grams of gold fell by Rs4,715 to Rs411,147.
The association said the local bullion market is reflecting the weakening trend in global prices.
In the international market, gold also declined by $55 per ounce, settling at $4,572.
The speakers at a panel discussion at a local university in Lahore warned that intense domestic political pressures in Washington and Tehran threaten to stall a final peace deal.
A failure to reach an agreement, they cautioned, could ignite a broader regional conflagration and push global crude oil prices beyond $120 per barrel.
Gold prices dip Rs8,900 in Pakistan – What’s expected this week
