Gold Price Registers Massive Decrease After Hitting Record High

Gold prices retreated on Wednesday in both domestic and international markets, following record highs set a day earlier.

The price of gold in Pakistan fell by Rs. 11,700 per tola to settle at Rs. 352,000, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Likewise, the price of 10 grams of gold dropped by Rs. 10,031 to Rs. 301,783.

This decline follows a sharp rise on Tuesday, when the price of gold per tola surged by Rs. 5,900, reaching an all-time high of Rs. 363,700.

Internationally, gold also experienced a notable drop. The price stood at $3,338 per ounce on Wednesday, down $116 from the previous day, as per APGJSA figures.