According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola dropped significantly by Rs.9,500, settling at Rs.494,662. Similarly, the rate for 10 grams of 24-karat gold fell by Rs.8,145 to Rs.424,092.

Gold prices for 22-karat also followed the downward trend, with 10 grams declining by Rs.7,466 to reach Rs.388,765. The drop reflects a broader correction in the bullion market after a recent spike.

Internationally, gold prices also saw a notable decrease, falling by $95 per ounce to stand at $4,723. The global dip contributed to the downward adjustment in local markets.

Silver prices in Pakistan mirrored the same trend. The price of 24-karat silver per tola dropped by Rs.300 to Rs.7,884, while 10 grams of silver declined to Rs.6,759.

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Market analysts suggest that fluctuations in global bullion rates and currency movements played a key role in the sudden decline, signaling continued volatility in precious metal markets.