After climbing to a historic high on Wednesday, the gold prices in Pakistan witnessed a significant drop on Thursday, driven by a fall in international rates.
The price of 24-karat gold per tola decreased by Rs1,000, reaching Rs263,000 in the local market.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10-gram gold of 24 karats also registered a decline, falling by Rs857 to settle at Rs225,480.
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The decrease in local prices mirrors global trends. On the international market, the price of gold fell to $2,518 per ounce, marking a $8 drop during the trading day, as per the APGJSA.
Meanwhile, silver prices remained stable at Rs2,900.
Last month, gold prices in Pakistan hit an all-time high of Rs263,700 per tola. Industry experts attribute the fluctuations in gold prices to global economic uncertainty and shifts in international demand.
