Gold rates in Pakistan on 13 May 2024 drops to Rs242,300

Gold rates in Pakistan continued their decline in line with the downward trend in the international market.

According to the All Sindh Sarafa Jewellers Association, the price of gold dropped by Rs1200 to close at Rs242,300 per tola, while the price of 10 grams decreased by Rs943 to settle at Rs207,733.

The precious commodity registered losses as the per-ounce price plunged by $10 to $2,349 in the international market.

Meanwhile, spot gold fell 0.2% to $2,354.77 per ounce by 0448 GMT. Prices hit a two-week high in the previous session.

U.S. gold futures fell 0.6% to $2,361.

Spot silver fell 0.4% to $28.03 per ounce, platinum inched down 0.1% to $992.89, and palladium remained unchanged at $978.03.