Gold prices in Pakistan fell sharply on Saturday, with the price per tola plunging by Rs14,900 in the domestic bullion market, tracking movements in international prices and a stronger local currency.
In global market, gold dropped 43 ounces and settled at $4155 per ounce.
The All Pakistan Gems and Jewellers Association (APGJA) said the price of ten grams of gold decreased by Rs39 and reached Rs374,166. One tola silver price increased by Rs16 to Rs6962.
Market experts said the decline reflected a softer global bullion market along with stability in the Pakistani rupee against the US dollar, which reduced demand for safe-haven assets. Silver prices remained largely stable with only minor fluctuations, traders said.