Gold prices falls in Pakistan

Gold prices witnessed a sharp decline in Pakistan on Saturday, with the price of 24-karat gold falling by Rs10,800 per tola, amid a steep downturn in international bullion markets.

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

Similarly, the price of 10 grams of 24-karat gold declined by Rs9,259 to Rs351,282.

In the international market, gold prices fell by $108 to $3,872 per ounce, the association reported.

Meanwhile, the price of silver also decreased by Rs142 per tola to Rs5,388.

The decline in precious metals comes amid a broader market sell-off, with technology shares sliding over concerns that massive investments in artificial intelligence (AI) may not generate sufficient returns.