Gold prices in Pakistan witnessed a notable decline, with the price of per tola gold decreasing by Rs 2,200 across the country, according to the All Pakistan Gems and Jewellers Association.

After the latest reduction, the price of per tola gold has settled at Rs 473,162. Similarly, the price of 10 grams of gold dropped by Rs 1,886, bringing it down to Rs 405,660.

The association said the decrease in local prices follows a decline in the international gold market, where gold fell by $22 per ounce to $4,508.

Market analysts attribute the fluctuation in gold prices to changes in global economic conditions, currency movements, and investor behavior in international bullion markets.

Gold prices in Pakistan are closely tied to global trends, and any movement in international rates typically has a direct impact on domestic markets.

Jewellers say the recent drop may provide temporary relief to buyers, especially those planning weddings or making investment purchases. However, they also caution that gold prices remain highly volatile and can change rapidly depending on global market developments.

Overall, the latest decline reflects ongoing instability in international commodity markets, where precious metals continue to respond to economic uncertainty, interest rate expectations, and geopolitical developments.