Gold prices in Pakistan dropped on Saturday, following a similar downward trend in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the gold price in Pakistan fell by Rs. 1,600 per tola, bringing the new rate to Rs. 422,562.
The price of 10 grams of gold also declined by Rs. 1,372, settling at Rs. 362,278 in the local market. On Friday, the yellow metal had seen a sharp rise, reaching Rs. 424,162 per tola after gaining Rs. 5,300 in a single day.
In the global market, gold prices also slipped. The international rate stood at $4,002 per ounce including a $20 premium, marking a decrease of $16 during the day.
Meanwhile, silver prices in the domestic market recorded a drop of Rs65 per tola, with the new rate now at Rs5,127.
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Traders believe that the fall in gold prices in Pakistan is largely influenced by the global trend, where the precious metal faced pressure due to a stronger US dollar and reduced demand from investors.
