After soaring to a record high on Friday, the gold prices in Pakistan experienced a major fall, with the rate per tola decreasing by Rs2,000, closing at Rs261,500.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of 24-karat gold also witnessed a decrease of Rs1,714, taking it up to Rs224,194.
On the other hand, the global gold market also saw a downward trend. The international price of gold fell to $2,497 per ounce after a $21 decrease during the trading day, as reported by the APGJSA.
Also Read: Gold price in Pakistan reaches record high with another spike
Silver prices in the local market also saw a decrease after a long time, dropping by Rs50 to Rs2,850 per tola.
The fluctuating gold prices in the local market continue to be influenced by the ongoing dynamics of the international market, coupled with domestic factors, including currency exchange rates and demand within the country.
