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The price of gold dropped sharply by Rs 2,600 per tola in Pakistan, bringing the new rate to Rs 351,500 per tola, according to the All Pakistan Gems and Jewellers Association (APGJA).
The rate of 10 grams of gold also fell by Rs 2,228, with the latest price recorded at Rs 301,354. This notable decline follows a downward trend in the international bullion market, where gold became cheaper by $26 per ounce, now trading at $3,331 per ounce.
Jewellers stated that the decline is largely linked to global market corrections, a slight strengthening of the US dollar, and profit-taking by traders after a long bull run in the precious metals market.
Despite the drop in gold prices, silver rates remained stable. The price of one tola of silver stood unchanged at Rs 3,508, while 10 grams of silver continued to sell for Rs 3,011.86.
