After weeks of consistent hikes, gold prices in Pakistan saw a sharp drop on the first trading day of the week, bringing major relief to buyers and investors.

According to the All Pakistan Sarafa and Jewellers Association, the price of 24-karat gold fell by Rs10,400 per tola, pushing the new rate down to Rs340,500.

Similarly, the price of 10 grams of 24-karat gold dropped by Rs8,917, bringing it to Rs291,923, while 10 grams of 22-karat gold settled at Rs267,693.

The price of silver also declined, with per tola silver decreasing by Rs17 to reach Rs3,400, and international silver prices dropping $0.17 to $32.18 per ounce.

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Meanwhile, the global gold market witnessed a significant drop, with the price of gold falling by $104 per ounce to settle at $3,221.

This decline comes amid fluctuations in international bullion markets and currency trends, reflecting investor reactions to global economic cues.