Gold prices have dropped by Rs10,800 per tola amid global speculation over a possible increase in US interest rates.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola fell by Rs10,800. Gold prices had also declined by Rs5,100 per tola a day earlier.
The new gold price is Rs409,736.
Meanwhile, the price of 10 grams of gold decreased by Rs9,259 to Rs351,282.
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.
