According to the All Pakistan Germ Merchants and Jewellers Association (APGMJA), the gold price dropped by Rs1,000 to 261,500 per tola.

Similarly, the price of 10 grams of 24-karat gold dropped by Rs857 to Rs224,194 per tola.

On the other hand, a bearish trend was observed in the international market too as the price of gold fell by $5 to $2,498 per ounce during the business day.

Meanwhile, silver prices in the domestic market remained unchanged at Rs2,950 per tola.

Fluctuations in gold prices in the domestic market are influenced by ongoing international market dynamics as well as domestic factors, including currency exchange rates and domestic demand.