The association reported that the price of gold per tola dropped by Rs 24,300, bringing it down to Rs 499,462.
Similarly, the price of 10 grams of gold decreased by Rs 20,833, settling at Rs 428,208.
In the international market, gold prices also fell by $243 per ounce, bringing the rate down to $4,767.
KARACHI: The gold prices have climbed sharply in the past week due to sustained global market momentum, with domestic market activity lagging behind.
In the international market, gold climbed $123 over the week to trade at $4,165 per ounce, leading to a surge in local prices.
In Pakistan, the price of one tola of gold increased by PKR 12,300, reaching PKR 438,862, while the price of 10 grams of gold rose by PKR 10,542, hitting PKR 376,253.
Silver prices also saw an increase, rising by PKR 420 per tola over the week to PKR 5,642 per tola.
Despite the rising gold prices, shopkeepers report that local market demand has slowed, with investors closely monitoring global market trends before making purchases.
