According to the All Pakistan Sarafa Gems and Jewelers Association, the rate of 10 grams of 24 karat gold dropped by Rs429 to Rs307,184 from Rs307,613, while 10 grams of 22 karat gold slid by Rs393 to Rs281,595 from Rs281,988.

Interestingly, silver prices stayed unchanged, with per tola silver trading at Rs4,013 and 10 grams at Rs3,440.

In the global market, gold prices slipped by $5 to $3,356 from $3,361, whereas silver held steady at $37.80.

This dip in gold prices may tempt short-term buyers, but the international decline hints that more price adjustments could be on the horizon. If global markets continue to weaken, domestic rates might follow suit.

On Monday, gold prices in Pakistan plunged by Rs3,600 per tola after a sharp fall in global markets.

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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.