Gold prices in Pakistan, which had reached an all-time high on Friday, experienced a sharp decline.
The price per tola dropped by Rs2,000, settling at Rs261,500. Similarly, the cost of 10 grams of 24-karat gold decreased by Rs1,714, bringing it to Rs224,194, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The international gold market also mirrored this downward trend. The global price of gold fell to $2,497 per ounce, marking a $21 decrease during the trading day, as reported by APGJSA.
Additionally, silver prices in the local market saw a rare decline, dropping by Rs50 to Rs2,850 per tola.
The fluctuating gold prices in Pakistan are influenced by a combination of international market dynamics and domestic factors.
These include currency exchange rates and local demand, which continue to play a significant role in shaping the trends observed in the gold market.
