Gold prices see major drop in Pakistan

Gold prices in Pakistan fell on Monday in line with a decline in international rates.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold dropped by Rs2,500 per tola, bringing it down to Rs353,000 in the local market.

Similarly, the price of 10 grams of gold declined by Rs2,143, closing at Rs302,640.

The decline follows a previous drop on July 4, when gold lost Rs1,500 per tola, settling at Rs355,500.

In the international market, gold was priced at $3,310 per ounce with a $20 premium, reflecting a $25 decrease during the day, APGJSA said.

Silver prices also edged lower, with the per tola rate falling by Rs30 to Rs3,841.