Gold prices saw a sharp decline both globally and in Pakistan, with rates dropping by $85 per ounce in the international market to $4,150 and by Rs7,538 per tola locally, bringing the price down to Rs437,362.
Spot gold rose slightly by 0.6% to $4,146.47 per ounce after falling more than 5% on Tuesday, marking its steepest drop since August 2020. Meanwhile, spot silver increased by 1% to $49.21 per ounce, platinum slipped 1.1% to $1,535.05, and palladium gained 1.4% to $1,427.84.
A similar downward trend was seen earlier, when gold prices tumbled by $106 per ounce internationally to $4,252, and in Pakistan, the rate per tola fell by Rs10,600 to Rs446,300, with ten grams dropping by Rs9,088 to Rs382,630.