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The 24-karat gold price dropped by Rs 3,800 per tola in Pakistan, according to the All Pakistan Gems and Jewelers Association.
This sharp decline in gold price, bringing the new rate to Rs 354,365, also affected the 10 grams rate, which fell by Rs 3,258 and now stands at Rs 303,810.
The decrease follows a similar trend in the global market.
Internationally, gold prices dropped by $39 per ounce, setting the new price at $3,327. Analysts suggest the fall may be due to shifting investor sentiment and global economic uncertainty.
Updated rates for different gold purities were also shared by the association, according to which the 22K gold now costs Rs 328,403 per tola and Rs 281,480 per 10 grams.
The 21K rates are Rs 313,475 per tola and Rs 268,686 per 10 grams, while 20K is priced at Rs 298,548 per tola and Rs 255,891 per 10 grams.
Lastly, 18K gold stands at Rs 268,693 per tola and Rs 230,302 per 10 grams.
The price fall could attract buyers looking to invest in gold at a lower cost. Jewelers expect an increase in customer visits, especially ahead of the wedding season.
Experts advise monitoring the market closely, as further changes in international rates or currency fluctuations could impact local gold prices in the coming days.
