Gold records significant drop in Pakistan

Gold prices recorded a significant decline in Pakistan on Saturday, with the price of 24-karat gold dropping by Rs10,800 per tola amid a sharp fall in international bullion markets.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold fell to Rs409,736 per tola.

Similarly, the price of 10 grams of 24-karat gold decreased by Rs9,259, settling at Rs351,282.

In the international market, gold prices dropped by $108 to reach $3,872 per ounce, the association said.

Silver prices also witnessed a decline, falling by Rs142 per tola to Rs5,388.

The fall in precious metal prices comes amid a wider sell-off in financial markets, as technology stocks declined over concerns that heavy investments in artificial intelligence may fail to deliver expected returns.