Gold prices see big drop locally, globally

Gold prices witnessed a sharp decline in both international and local markets, marking a significant downturn in value.

In the global bullion market, the price of gold per ounce plummeted by $50, bringing it down to $2,883.

Following the international trend, gold prices in Pakistan also saw a substantial decrease.

The price of one tola of gold dropped by Rs 4,700, settling at Rs 301,500. Meanwhile, the price of 10 grams of gold fell by Rs 4,030, reaching Rs 258,487.

Market analysts attribute the decline to fluctuations in global demand and the strengthening of the US dollar.