Sparking curiosity among investors, gold prices took a surprising dip, with the 24-karat per tola rate dropping by Rs3,600 to Rs358,800. The news prices are compared to Rs362,400 on the previous trading day, the All Pakistan Sarafa Gems and Jewelers Association said.

Likewise, the price of 10 grams of 24-karat gold fell by Rs3,086, settling at Rs307,613 from its earlier rate of Rs310,699. Meanwhile, 10 grams of 22-karat gold declined by Rs2,829 to Rs281,988 from Rs284,817.

The silver market also mirrored the downward trend. Per tola silver dropped by Rs51 to Rs4,013, while 10 grams slid by Rs44 to Rs3,440.

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On the global front, gold prices experienced a major slip, falling by $36 to $3,361 from $3,397. Silver also declined by $0.51, trading at $37.80 compared to $38.31 previously.

The sudden plunge in gold prices appears to be directly linked to the sharp drop in international rates, as investors worldwide shift their positions amid market uncertainty. This could be a short-term buying opportunity for local investors, but volatility in global commodity markets means prices may continue to fluctuate in the coming days.