KARACHI: Gold prices saw a modest decline in Pakistan on Saturday after rising for several days, with the price of one tola dropping by Rs500.
According to the All Pakistan Gems and Jewellers Sarafa Association, the price of one tola of gold fell to Rs459,936 from the previous rate.
The price of 10 grams also decreased by Rs429, reaching Rs394,320.
The decline in local gold prices followed a small drop in the international market. Global gold prices fell by $5 to $4,375 per ounce.
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Gold prices in Pakistan generally move in line with international rates, while exchange rate changes and global economic developments also affect the local market.
Despite the latest decline, gold prices have remained high in recent weeks as demand for the precious metal continues, particularly among investors and those who consider gold a traditional store of value.
Gold is widely viewed as a safe-haven investment during periods of economic uncertainty and volatility in global financial markets.
The latest drop remains relatively minor, with gold prices still close to historically high levels.