According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold decreased by Rs2,600 per tola, bringing the total to Rs273,300.

Meanwhile, the price for 10 grams of 24-karat gold fell by Rs2,229, now priced at Rs234,311.

In the international market, gold also saw a decline, dropping by $26 to $2,621 per ounce, with an additional premium of $20.

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Latest Pakistan gold rates for January 16

Gold rates fall below Rs200,000

Gold rates decline by Rs1,700 to Rs216,000 per tola

Silver prices in the local market remained stable, with a slight decrease of Rs50, now standing at Rs3,350 per tola.

This fluctuation in gold prices marks a notable shift after a recent period of slight increases.