Gold price drops by Rs1,000 to Rs250,000 per tola

Gold prices in Pakistan experienced a decline for the second straight session on Saturday, mirroring the downward trend in international markets.

In the local market, the price of gold per tola settled at Rs250,000, following a single-day drop of Rs1,000.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of gold fell by Rs857, bringing it to Rs214,335.

This decline follows a substantial decrease on Friday when the gold price per tola dropped by Rs3,000.

On the international front, gold prices also saw a reduction on Saturday. The rate, as reported by the APGJSA, stood at $2,400 per ounce, inclusive of a $20 premium, after shedding $15 during the day.

In contrast, silver prices showed an upward trend, increasing by Rs70 to reach Rs2,920 per tola.

Earlier in the week, on Thursday, gold prices in Pakistan had surged by Rs4,600 per tola, reaching an all-time high of Rs254,000 per tola in the local market.