According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 10 grams of 24-karat gold fell by Rs1,714, settling at Rs302,641, while 22-karat gold slid to Rs277,421 from Rs278,992.

Silver also took a hit in the local market. The price of one tola silver dipped by Rs63, ending the day at Rs3,900, while 10 grams of silver fell by Rs53 to close at Rs3,344.

International markets followed a similar trend. The global gold price slipped by $20, now trading at $3,303 per ounce, down from $3,323. Silver saw a fall as well, trading at $36.51 per ounce versus the previous $37.90.

Read more: PSX surges nearly 1,000 points amid heavy trading

The continued drop in gold and silver prices reflects both international pressures and local market adjustments. This could signal a buying opportunity for investors and jewelry buyers. However, market watchers advise caution, as global economic trends and currency shifts can quickly reverse these gains or deepen the slump.