After a streak of rising gold prices in Pakistan, the local market has witnessed another significant drop.

According to the All Pakistan Sarafa and Jewellers Association, the price of 24-karat gold per tola decreased by Rs1,600, bringing the new rate to Rs349,400.

Similarly, the price of 10-gram gold fell by Rs1,371, now standing at Rs299,554.

On the global front, gold prices also declined. The international market saw a $16 per ounce drop, setting the new price at $3,274 per ounce.

This follows yesterday’s sharp dip, where gold prices dropped by Rs5,000 per tola, taking the local rate to Rs351,000 per tola after the decline.