After this drop, the price decreased from Rs359,000 on the previous trading day, the All Pakistan Sarafa Gems and Jewelers Association reported.

Likewise, the price of 10 grams of 24-karat gold decreased by Rs.2,572, reaching Rs.305,212 from Rs.307,784. For 22-karat gold, the price per 10 grams fell by Rs.2,358, dropping from Rs.282,145 to Rs.279,787.

Interestingly, silver prices remained steady with no change. A tola of silver continued to be priced at Rs.4,014, while 10 grams were available for Rs.3,441.

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On the global front, gold prices took a slight dip of $30, now standing at $3,335 compared to $3,365 previously. However, silver prices stayed constant at $38.30.

The drop in gold prices signals a shift in the precious metals market, raising questions about its short-term trend. Investors may want to monitor the global market closely, as international prices reflect the local adjustments, impacting the buying and selling strategies in Pakistan.

The stability of silver, however, provides a potential safe haven amidst fluctuations in gold prices.