Gold prices drop Rs1,046 per tola

KARACHI: Gold prices fell by Rs1,046 per tola on Saturday in the local market, tracking a decline in international rates.

According to the All Pakistan Sarafa Gems and Jewellers Association, gold prices dropped to Rs299,000 per tola.

Similarly, the price of 10-gram gold decreased by Rs897, bringing it down to Rs256,344.

In the international market, gold rates fell by $8, settling at $2,861 per ounce. Local gold prices are typically adjusted with a premium of $20 over international rates.

Silver prices also declined, with rates dropping by Rs48 to Rs3,330 per tola. The price of 10-gram silver decreased by Rs42, reaching Rs2,854.

The decline in gold prices comes after a series of record-breaking highs over recent weeks.

Investors and market stakeholders will continue to closely monitor international developments, which remain crucial in determining the trajectory of gold prices.