Despite a rise in global markets and a weakening of the local currency versus the US dollar in the interbank market, the price of gold in Pakistan fell on Tuesday. The price of gold (24 carats) dropped by Rs 2,300 per tola and Rs 1,972 per 10 grammes, respectively, according to data supplied by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA). These prices eventually settled at Rs 228,100 and Rs 195,559, respectively. In the meantime, the price of gold rose by $24 on the world market to close at $1,964 for an ounce. In local markets, the price of gold varied over the previous week and dropped by Rs1,600 the following week (June 3). Over the past two days, the cost of a tola of gold has dropped by a total of Rs3,300. Recent political and economic unpredictability, rising inflation, and currency depreciation have all contributed to the fluctuating gold price in Pakistan. In these circumstances, people prefer to purchase yellow metal as a hedge and a safe investment. The price of silver declined by Rs100, according to data provided by the association, to settle at Rs2,650 per tola and Rs2,271.94 for each 10 grammes.