The price of gold in Pakistan experienced a significant drop on Thursday, falling by over Rs. 5,000 per tola, as international market prices hit a three-week low. This decline comes in the wake of investors shifting their focus to the US dollar following Donald Trump’s election as US president.

According to the Karachi Sarafa Association, the price of 24-carat gold decreased by Rs. 5,600 per tola, bringing it down to Rs. 276,800. Similarly, the price of 10 grams of gold fell by Rs. 4,630, settling at Rs. 237,311.

This marks the third consecutive decline in gold prices in the local market, with marginal decreases recorded on both Tuesday and Wednesday. The recent downturn follows a period of record highs, with the price of gold reaching an all-time peak of Rs. 287,900 per tola last month.