After a brief surge in the previous session, gold prices in Pakistan experienced a decline on Saturday, aligning with a dip in international rates.
The price of gold per tola in the local market fell by Rs500, settling at Rs256,800, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
In addition to the decrease per tola, the price of 10-gram gold dropped by Rs429, bringing it to Rs220,165. This reduction follows a significant increase on Friday, when gold prices soared by Rs2,400 per tola, reaching a record high of Rs257,300.
Globally, gold prices also witnessed a decline on Saturday. The APGJSA reported that the international rate stood at $2,443 per ounce, including a $20 premium, after losing $15 during the day.
In contrast, silver prices remained stable. The rate for silver held steady at Rs2,900 per tola, showing no change from the previous session.
The fluctuation in gold prices reflects the volatile nature of the precious metals market, influenced by various international economic factors. Local traders and investors continue to monitor global trends closely, impacting domestic rates accordingly.