Gold prices recorded a historic decline across Pakistan’s bullion markets, marking the largest single-day drop in the country’s history.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola fell by Rs 43,600, bringing it down to Rs 447,762. Likewise, the price of 10 grams dropped by Rs 37,380 to Rs 338,883.
In the international market, gold prices also plunged by $436 to settle at $4,250 per ounce, triggering a strong impact on local rates.
The sharp decline comes after gold prices had recently surged to record-high levels due to global economic uncertainty, inflation concerns, and increased investor demand for safe-haven assets.
A sudden shift in international market trends — including strengthening of the US dollar, easing inflation fears, and profit-taking by investors — has led to a steep in prices.
Experts believe that continued fluctuations in the global economy will keep gold prices volatile in the coming days, with investors closely watching international financial indicators.
Read more: Gold prices see a massive drop in Pakistan
