Following the decline in gold prices in the international market, gold prices in Pakistan have also recorded a significant decrease.

According to the All Pakistan Sarafa Jewelers Association, the price of gold per tola has dropped by Rs 14,900 to Rs 438,036.

Similarly, the price of 10 grams of gold has decreased by Rs 13,410 and is now being sold at Rs 374,205.

A downward trend in gold prices is also being observed in the global market. According to Reuters, spot gold is trading at $4,174.50 per ounce after a 0.8% decline, while a decrease has also been recorded in U.S. futures.

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Experts say that the strengthening of the U.S. dollar and the Federal Reserve’s tight monetary policy are putting pressure on gold prices. They add that high interest rates are pushing investors away from non-yielding assets such as gold.

The report further states that if this trend continues, gold prices may decline further and could fall below $4,000 per ounce.

Experts believe that in the coming days, global economic conditions, geopolitical developments, and U.S. inflation reports will play a key role in determining gold prices.