Gold prices drop by Rs5,500 per tola in Pakistan amid global decline

In the local market, the price per tola decreased by Rs5,500, settling at Rs266,400, according to the All-Pakistan Gems and Jewelers Sarafa Association. Meanwhile, 10-gram gold saw a drop of Rs4,716, bringing the rate to Rs228,395. The international price of gold dropped by $55 per ounce, reaching $2,552 with a premium of $20, according to APGJSA. This correction follows a recent rise on Wednesday when local gold prices climbed by Rs1,400 per tola to Rs271,900.