According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 10 grams of 24 karat gold also dropped, falling by Rs1,372 to settle at Rs304,098, down from the previous rate of Rs305,470. Similarly, 10 grams of 22 karat gold declined to Rs278,757.

Interestingly, the silver market remained unaffected. The price for one tola silver stood firm at Rs3,963, while the rate for 10 grams held steady at Rs3,397.

In the global market, gold prices also witnessed a noticeable dip of $16, sliding from $3,336 to $3,320. Silver, however, showed no movement and stayed at $38.15.

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This consistent drop in gold prices both locally and internationally indicates market uncertainty, possibly influenced by shifting investor sentiment, forex volatility, or profit-taking trends. However, the steadiness in silver suggests demand stability, possibly due to its industrial usage or safe-haven appeal in smaller investments.

For now, buyers may find this an opportune moment, but fluctuating trends demand cautious optimism.