Gold prices in Pakistan fell by Rs1,600 per tola on Saturday, following a decline in international gold prices.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola dropped to Rs439,036.
Meanwhile, the price of 10 grams of gold decreased by Rs1,372 to Rs376,402.
On Friday, gold prices rose by Rs2,800 per tola to Rs440,636. However, the international gold rate declined by $16 to $4,165 per ounce on Saturday.
The prices change daily because of live global trading, changes in the US dollar, and shifts in economic conditions.
Gold is a limited resource. When demand from investors, central banks, or jewelers rises faster than available supply, prices go up.
Earlier this year, gold reached its all-time high in Pakistan when the price surged to a record Rs572,862 per tola (and Rs491,136 per 10 grams), driven by international gold crossing $5,504 per ounce.