Gold prices drop by Rs 3,800 per tola in Pakistan

KARACHI: The price of gold in Pakistan witnessed a major decline on Tuesday, with a sharp drop recorded both locally and internationally.

According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold fell by Rs3,800 per tola, bringing the new rate to Rs354,365 per tola. Similarly, the price of 10 grams of gold decreased by Rs3,258, now standing at Rs303,810.

On the global front, gold prices also fell significantly, with the international rate dropping by $39 per ounce, settling at $3,327 per ounce.

Traders attribute the decline to fluctuations in the international market and changing investor sentiment.