On Saturday gold prices decline in Pakistan, reflecting a similar downturn in international markets.
The price of gold per tola dropped by Rs700, settling at Rs276,000, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). In addition, the price for 10 grams of gold decreased by Rs601, now priced at Rs236,625.
This follows a decrease on Friday, where gold prices had already fallen by Rs300, closing at Rs276,700. The international gold rate also experienced a reduction on Saturday, recorded at $2,657 per ounce with a premium of $20, down by $6 during the day.
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In contrast, silver prices remained stable at Rs3,050 per tola. Notably, gold prices had recently peaked at a record high of Rs277,000 per tola on Thursday.
Experts attribute the fluctuations in gold prices to various global factors, including escalating geopolitical tensions in the Middle East, recent cuts in Federal Reserve interest rates, and surging demand from significant markets such as China and India.
