Gold drops Rs21,400 per tola in Pakistan

Gold prices in Pakistan registered a sharp decline on Tuesday, according to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The association said the price of gold fell by Rs21,400 per tola, bringing the new rate to Rs507,762 per tola. The significant drop marks another downward movement in local gold prices amid fluctuations in the international market.

Similarly, the price of 10 grams of gold decreased by Rs18,347 to settle at Rs435,324.

On the international market, gold prices also witnessed a sharp fall. The price of gold declined by $214 to $4,850 per ounce, traders said.

Market analysts attribute the decrease in local prices primarily to the downward trend in global gold rates, along with currency-related factors.