Karachi (Web Desk): After witnessing a continuous upward trend, gold prices in the local market have finally seen a significant drop.
According to the All Pakistan Sarafa Jewellers Association, the price of 24-karat gold per tola has decreased by Rs2,500, bringing the new rate down to Rs407,778.
Similarly, the price of 10 grams of gold has declined by Rs2,144, now standing at Rs. 349,603.
On the international front, the price of gold also experienced a decline. The global gold rate dropped by $25, reaching $3,865 per ounce.
It is worth mentioning that just a day earlier, the price of gold per tola had increased by Rs3,500, pushing the rate up to Rs410,278, the highest level recorded in recent days.
Market analysts suggest that the recent decline in gold prices may be attributed to fluctuations in the international market, currency exchange rates, and changing investor sentiments. Further volatility in prices is expected in the coming days.