Gold Suffers Big Crash Again

Gold rates in Pakistan fell sharply on Friday, dropping by Rs.

Key points

• 21, 500 below its October 10 peak of Rs.
• The cost of 10 grams of 24-karat gold additionally fell by Rs.
• Earlier, crypto firm Binance noted over $6 billion lost to a suspected hacking attack.
• Obtain the latest business news, market insights, and economic updates wherever you prefer.

Gold rates in Pakistan fell sharply on Friday, dropping by Rs. 5, 100 per tola to Rs. 420, 536 as the international rate slipped below $4, 000 per ounce.

For context, the cost of 10 grams of 24-karat gold additionally fell by Rs. 4, 373 to Rs. 360, 541, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Silver additionally became cheaper. The cost of silver per tola dropped by Rs. 238 to Rs. 5, 530.

Earlier, crypto firm Binance noted over $6 billion lost to a suspected hacking attack. More details will be shared as the situation expands. Gold Crash Below Rs. 400, 000 Still Feasible. Gold Ends Two-Day Run.

Friday's fall came after gold held steady at Rs. 425, 636 per tola on Thursday. A day earlier, it had gained Rs. 3, 500 per tola.

With this decline, gold is now Rs. 21, 500 below its October 10 peak of Rs. 442, 036 per tola. Global Gold Falls Below $4, 000.

In practice, the local rate followed the global trend. The international cost of gold fell by $51 to $3, 980 per ounce, slipping back below the $4, 000 mark it had held since Wednesday. Stay Connected with ProPakistani.

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Taken together, the developments around gold Suffers Big Crash Again point to a situation that is still moving, and the coming days should bring more clarity.