Gold prices in Pakistan have dropped by Rs2,300 per tola, following a decrease in international gold rates on May 3.
In the global market, gold prices fell by $23 per ounce, bringing the new international rate to $3,240 per ounce.
Gold prices in Pakistan also decreased following a dip in the global bullion market, settling at Rs342,200 per tola today.
Similarly, the price of 10 grams of gold dropped by Rs1,972 to Rs293,381. Silver prices also saw a notable decrease. The price of silver per tola fell by Rs45 to Rs3,382, while the 10-gram rate slipped by Rs39 to Rs2,899.
It merits a mention that gold prices in Pakistan have experienced a decline for the second consecutive day after weeks of an increasing trend.
Experts have suggested that global instability, including the tariff war between the USA and China, led to investors vouching for a safe bet for their investment, gold.
This led to a sharp rise in gold prices across the world.
Read more: Pakistan successfully conducts Abdali Missile test amid Pak-India tensions
Pakistan has successfully conducted a training missile test of its short-range Abdali missile system, the military confirmed. This move comes during a time of rising tensions with neighboring India, signaling Islamabad’s focus on strengthening its defense capabilities.
According to Pakistan’s Inter-Services Public Relations (ISPR), the missile test was carried out to ensure the operational readiness of the weapon system. The Abdali missile is a surface-to-surface ballistic missile capable of hitting targets up to 450 kilometers away.
The ISPR said the missile test validated several key technical features of the system, including its advanced navigation and improved maneuverability. The launch was witnessed by top military officials, engineers, and scientists from Pakistan’s strategic organisations.
