According to the All Pakistan Sarafa Gems and Jewellers Association, the rate for 10 grams of 24-karat gold also went down by Rs1,200, reaching Rs381,430 from Rs382,630. Meanwhile, 10 grams of 22-karat gold saw a drop of Rs1,100, now priced at Rs349,656 instead of Rs350,756.

The international market mirrored this trend, where gold prices declined by $17 per ounce, falling from $4,252 to $4,235.

Silver also lost value in both local and global markets. The per tola price of 24-karat silver dropped by Rs12, settling at Rs5,261 compared to Rs5,273. Similarly, 10 grams of silver fell by Rs10, reaching Rs4,510 from Rs4,520.

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Internationally, silver prices decreased by $0.26, with the new rate at $51.60 per ounce.

Experts say the ongoing global uncertainty and shifting investor sentiment are causing fluctuations in precious metal prices. While local demand remains steady, global market corrections are keeping rates unstable. Many investors are now closely monitoring the US dollar’s movement and geopolitical factors that could determine the next big swing in gold prices.