Gold price in Pakistan drops Rs1,046 following historic peak

After reaching an all-time high just the previous day, gold prices in Pakistan saw a significant decline on Saturday, mirroring the drop in international markets.

The price of gold per tola fell by Rs1,046, reaching Rs299,000, while 10-gram gold was sold at Rs256,344, a reduction of Rs897.

This decline was in line with international gold prices, which decreased by $8, settling at $2,861 per ounce (including a $20 premium), according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Just a day earlier, gold prices in Pakistan had surged by Rs1,346, hitting a historic peak of Rs300,046 per tola, driven by global economic uncertainties.

The recent rise in gold prices has been largely attributed to concerns over trade wars and their potential impact on global economic stability.

Read More: Gold hits record high of Rs300,046 per tola in Pakistan

Meanwhile, silver also saw a slight decline, with its price falling by Rs48 to reach Rs3,330 per tola.

As global economic tensions continue to affect the precious metals market, analysts are closely monitoring these fluctuations.