According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola fell by Rs1,300, reaching Rs344,500. Similarly, the price of 10 grams of gold dropped by Rs1,114, now standing at Rs295,353.

The association reported that international gold prices also saw a decrease of $13, bringing the global rate to $3,263 per ounce.

Meanwhile, silver prices remained stable, with the per tola rate at Rs3,427 and the per ounce rate steady at $32.45.

Gold prices plunge by thousands in local, international markets

It is worth mentioning that on April 30, gold prices in Pakistan had declined by Rs3,400, while global prices dropped by $34. Despite the recent dips, gold prices in Pakistan surged by a total of Rs20,800 per tola during the month of April.