The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported a reduction of Rs1,000 in the price of gold per tola, bringing it down to Rs261,500. The 10-gram gold price also saw a decline of Rs857, now standing at Rs224,194.

In contrast, silver prices remained steady at Rs2,950 per tola.

Globally, the price of gold decreased by $5 per ounce, settling at $2,498 with a premium of $20.

This decline follows a record high for gold prices in Pakistan last month, which reached Rs263,700 per tola. The APGJSA's updated rates reflect the local market's adjustment to global trends. The drop in prices is attributed to shifts in global demand and supply dynamics.