KARACHI: Local and international gold prices nosedived from all-time highs on Saturday, reflecting a sharp fall in global rates, dropping below $2,900 per ounce, traders said.
The precious metal prices declined by Rs4,700 and Rs4,030, receding from a record high to Rs301,500 per tola and Rs258,487 per 10 grams respectively, All Pakistan Sarafa Gems and Jewellers Association said.
On the world market, gold bullion value fell by $50, going down from all-time high to $2,883 per ounce with silver prices standing at over $32 per ounce. Domestic silver prices dropped by Rs87 and Rs74, reaching Rs3,363 per tola and Rs2,883 per 10 grams, respectively, the association added.
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