Gold prices have witnessed a steep decline after a 28-day hiatus in Pakistan, 24News HD TV Channel reported on Tuesday.
According to the channel, the gold rates were last reported on September 12, 2023, revealing a substantial drop in the precious metal's value.
As per the channel report, one tola of 24 karats of pure gold, a traditional unit of measurement, has tumbled by a staggering Rs15,500, now standing at Rs199,500.
Similarly, the price of 10 grams of 24 karats of pure gold has dipped by Rs13,546, currently priced at Rs171,039.
In the international market, the decline is equally pronounced, with gold losing $55 in value, bringing the per-ounce price down to $1,856.
The price of silver has also been affected by this downward trend of gold in the Pakistani market, with one tola of silver seeing a decrease of Rs50, settling at Rs2,500 per tola.
The future price of gold will continue to be closely linked to the interbank dollar price, leaving market analysts and investors closely monitoring global economic factors that influence these fluctuations.