Gold prices fall by Rs5,500 per tola

Gold prices in Pakistan witnessed a significant decline on Saturday, mirroring the downward trend in international markets.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold fell by Rs5,500 per tola, bringing the new rate to Rs320,000.

Similarly, the price of 10 grams of gold dropped by Rs4,714, settling at Rs274,348.

The local bullion market had resumed trading at record highs of Rs325,500 per tola and Rs279,063 per 10 grams following the Eid-ul-Fitr holidays.

The recent drop follows a surge in both local and international prices earlier in the week, when gold nearly touched $3,100 per ounce in global trading, setting new historic benchmarks.