The price of 24-karat gold per tola dropped below Rs500,000 on Thursday after a sharp decline, according to a report.
Data shared by the All Pakistan Sarafa Gems and Jewellers Association showed that gold prices fell by Rs24,300 per tola, bringing the new rate to Rs499,462.
Similarly, the price of 10 grams of 24-karat gold saw a significant drop of Rs30,833, settling at Rs428,202.
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Silver prices also declined, going down by Rs760 per tola. In the international market, gold prices slipped to 4,767 per ounce.