ISLAMABAD: Gold price on Tuesday dropped in Pakistan as well as in the international markets. The precious metal has been extremely volatile since Russia-Ukraine conflict started in February.
According to the rates compiled by the All Sindh Sarrafa and Jewelers Association, the price of 24-k gold recorded a sharp decrease of Rs1,350 per tola. It is now being sold at Rs129,200.
Meanwhile in the international market, the precious commodity fell by $41 per ounce and settled at $1,925.
In October last year, the gold had reached a peak of Rs132,000 per tola in Pakistan.
In the domestic market, the price of per 10-gram of gold fell by Rs1,157 to Rs110,768.
Silver price
The silver price, however, has increased in Pakistan. It recorded an increase of Rs20 per tola and Rs17.14 per 10-grams. It is being sold at Rs1,500 and Rs1,286, respectively. Prices of crude oil and other commodities have registered a sharp decline on Monday and Tuesday amid reports of progress in talks between Russia and Ukraine.
A new coronavirus outbreak in China has also led to a fall in oil prices as a segment of Chinese economy goes into a new lockdown. –Agencies
