Gold price drops by Rs1,400 to Rs241,500 per tola

In a significant turn of events, gold prices in Pakistan fell on Saturday, aligning with a downward trend in the international market.

The price of gold per tola dropped by Rs1,400, settling at Rs241,500, as reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Similarly, the price of 10 grammes of gold decreased by Rs1,201, reaching Rs207,047. This decline follows a notable rise on Friday when the price per tola had surged by Rs1,600 to hit Rs242,900.

On the international stage, gold prices also saw a decline on Saturday. According to the APGJSA, the international rate was set at $2,320 per ounce, including a $20 premium, after experiencing a $43 drop during the day.

Contrarily, silver prices showed an upward trend in the local market, increasing by Rs100 to reach Rs2,850 per tola.

It is noteworthy that gold prices had previously peaked in April, hitting an all-time high of Rs252,200 per tola in Pakistan.

The recent fluctuations highlight the ongoing volatility in both local and international precious metals markets.