According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola has decreased by Rs1,100, bringing it down to Rs439,836.

Under the new rates issued by the association, the price of 10 grams of gold has also fallen by Rs943, settling at Rs377,088.

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It is worth noting that gold prices had surged significantly a day earlier. The price per tola had increased by Rs12,200 to Rs440,936, while the price of 10 grams had risen by Rs10,459 to Rs378,031.

Meanwhile, in the international market, gold prices moved higher, with spot gold gaining 1% to reach $4,165 per ounce, its highest level since June 23.