Gold prices in Pakistan fell sharply on Tuesday following losses in the international bullion market. The price of gold per tola declined by Rs2,400 to reach Rs475,362 in local markets. The decline affected investors, jewellers, and consumers tracking daily precious metal rates.
According to the All-Pakistan Gems and Jewellers Sarafa Association, 10-gram gold prices also dropped significantly. The rate for 10 grams of gold decreased by Rs2,057 to settle at Rs407,546. Local bullion traders linked the decline to falling international gold prices and weaker global demand.
Read more: Gold prices rise again across Pakistan
The international price of gold declined by $24 during the trading session. Global gold rates reached $4,530 per ounce, including a premium of $20. Analysts said easing investor concerns and changing market sentiment pressured international bullion prices. Consequently, local gold markets in Pakistan mirrored the downward trend.
On Monday, gold prices had recorded a strong increase across Pakistan’s bullion markets. The price per tola had surged by Rs4,600 to settle at Rs477,762. However, Tuesday’s decline reversed part of the previous session’s gains and shifted short-term market momentum.
Read more: Gold prices decrease by Rs 24,300 per tola
Meanwhile, silver prices also registered a notable decline in the domestic market. Silver rates fell by Rs153 per tola to reach Rs8,117. Traders expect precious metal prices to remain volatile amid fluctuations in global economic conditions and investor sentiment.