Gold prices in Pakistan

According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola dropped by Rs4,300 to Rs427,436 from Rs431,736.

Similarly, the price of 10 grams of 24-karat gold decreased by Rs3,687 to Rs366,457 from Rs370,144.

In the international market, gold prices fell by $43 to $4,050 per ounce from $4,093 per ounce, according to the association.Meanwhile, silver prices also declined in Pakistan, with the price per tola falling by Rs174 to Rs6,223 from Rs6,397. The price of 10 grams of silver decreased by Rs149 to Rs5,335 from Rs5,484.

International silver prices also fell to $57.44 per ounce, the association added.

Gold prices remained volatile amid renewed geopolitical tensions in the Middle East, with investors closely monitoring their potential impact on global inflation, financial markets, and monetary policy.

The precious metal has faced pressure in recent months due to expectations that the US Federal Reserve may maintain higher interest rates for an extended period.