Gold Prices Drop in Pakistan Following Global Market Decline

KARACHI:Gold prices in Pakistan witnessed a notable decline on Tuesday, aligning with a downward trend in the international bullion market.

According to the All Pakistan Gems and Jewellers Sarafa Association, the price of **24-karat gold per tola** dropped by **Rs700**, bringing the new price to **Rs359,000**. Similarly, the price of **10 grams of gold** decreased by **Rs600**, settling at **Rs307,784**. These rates will remain effective until this afternoon.

This drop partially offsets the **Rs1,600** increase recorded on Monday, when the price of gold per tola had surged to **Rs359,700**.

In the **international market**, gold prices also experienced a decline, with the price per ounce falling by **\$7**, reaching **\$3,365** (including a \$20 premium).

Meanwhile, **silver prices** saw a significant drop as well. The price of silver per tola declined by **Rs73**, bringing it down to **Rs4,014**, potentially impacting other segments of the jewelry industry.

Experts attribute this downward trend to ongoing uncertainty in global financial markets and fluctuations in the value of the US dollar. The local market has followed suit in response to these international developments.