Gold prices see another sharp decline

Gold prices in Pakistan fell sharply again on Saturday, with the All Pakistan Gems and Jewellers Association announcing a reduction of Rs3,600 per tola.

According to the association, the price of one tola of gold fell to Rs465,536, while the price of 10 grams declined by Rs3,086 to Rs399,122.

The drop followed a decline in international gold prices, which fell by $36 to $4,430 per ounce in the global market.

Gold prices in Pakistan are influenced by international bullion rates as well as fluctuations in the rupee-dollar exchange rate. Global economic uncertainty, changes in interest-rate expectations and geopolitical tensions also affect demand for gold, which is often viewed by investors as a safe-haven asset during periods of economic and political uncertainty.