The price of 24 karat gold per tola dropped by Rs13,900 and was sold at Rs549,962 compared to Rs563,862 earlier, according to the All Pakistan Sarafa Gems and Jewellers Association. The sudden fall came as international prices showed a strong correction.

Similarly, the price of 10 grams of 24 karat gold decreased by Rs11,917 to Rs471,503 from Rs483,420. The rate of 10 grams of 22 karat gold also declined by Rs10,925 to Rs432,226 from Rs443,151.

Silver prices also moved down sharply. Per tola silver fell by Rs1,146 to Rs8,904 from Rs10,050. Meanwhile, 10 grams of silver decreased by Rs983 to Rs7,633 from Rs8,616.

In the international market, gold prices dropped by $139 to $5,272 from $5,411. Silver prices also declined by $11.46 to $84.20 from $95.66, the Association added.

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Market analysts say the recent decline comes despite ongoing uncertainty in the Middle East. Investors had earlier rushed toward gold as a safe haven due to rising geopolitical tensions. However, some global traders are now booking profits after recent highs.

Experts believe easing fears of immediate escalation and a stronger dollar also pushed prices downward. Still, the situation in the Middle East remains sensitive, and any sudden development could again drive investors back to gold.

In simple words, gold is cooling for now. But if tensions rise again, prices may jump quickly. The market is calm, but it is not fully relaxed.