According to data from the All Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold fell Rs1,800 per tola.

The new gold price stands at Rs453,936 per tola.

The price of 10 grams of 24-karat gold also declined by Rs1,544. It settled at Rs389,176.

Meanwhile, silver prices fell by Rs30 per tola. The new silver rate reached Rs7,008 per tola.

International Gold Prices Decline

Gold prices also declined in the international market.

The price of gold fell by $18 per ounce to $4,314 per ounce.

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The drop in global bullion prices directly affected domestic rates in Pakistan.

As a result, local gold prices moved lower across the country.

Market participants continue to monitor international bullion prices because global movements strongly influence gold rates in Pakistan.