Gold prices drop Rs1,600 per tola in Pakistan

Gold prices in Pakistan continued to fall this week, following a downward trend in the international market.

On Saturday, the All Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that the price of gold per tola dropped by Rs 1,600, bringing it down to Rs 349,400. The price of 10 grams of gold also fell by Rs 1,371, now costing Rs 299,554.

This drop comes after a larger decline earlier, when gold prices fell by Rs 5,000 per tola, closing at Rs 351,000.

In the international market, gold also fell by $16, reaching $3,274 per ounce, as investors remained cautious. However, silver prices stayed the same, with one tola priced at Rs 3,782.

Experts say the fall in gold prices is due to changes in the global economy and the strength of the US dollar, which often pushes gold prices down. Local jewelers believe that gold prices may continue to change in the coming days, depending on how the world economy and currency rates move.

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