Gold prices in Pakistan saw a notable drop on Saturday with the price of one tola (11.66 grams) decreasing by Rs1,100 following a decline in international gold rates.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold was traded at Rs276,200 per tola in the local market, down from the previous day's price of Rs277,300.
The price of 10 grams of gold also saw a decrease, settling at Rs236,797, down by Rs943.
This decline came after a sharp increase in gold prices just the day before, when the per tola price had risen by Rs2,100. The fluctuation in gold prices is largely attributed to the movement in international markets, where the price of gold witnessed a drop on Saturday.
The global price stood at $2,650 per ounce, losing $11 during the day, with a premium of $20 added to the base price.
While the price of gold fluctuated, silver prices remained steady in Pakistan, with the rate holding at Rs3,400 per tola, unchanged from the previous session.
Market analysts suggest that the volatility in gold prices reflects broader global economic trends, which could continue to influence rates in the coming days.
