Gold prices in Pakistan slipped on Tuesday, reflecting a drop in the international market, according to figures shared by the All Pakistan Sarafa Gems and Jewellers Association.
The price of 24-karat gold per tola fell by Rs1,900, bringing it down to Rs441,862. The rate for 24-karat gold per 10 grams also went down by Rs1,629, now standing at Rs378,825.
Gold of 22-karat quality per 10 grams recorded a decrease of Rs1,494, settling at Rs347,268. This decline followed the global trend, where the international price of gold per ounce slid by $19 to $4,195.
Meanwhile, the silver market remained stable. The price of 24-karat silver per tola stayed unchanged at Rs6,102, and silver per 10 grams held steady at Rs5,231. International silver prices also remained flat at $58.30 per ounce.
The Association noted that local gold prices are determined using interbank exchange rates to keep them aligned with global movements.
A day earlier, gold prices in Pakistan had risen sharply. The rate of 24-karat gold per tola had increased by Rs1,600 to reach Rs443,762, while 24-karat gold per 10 grams had climbed by Rs1,372 to Rs380,454. The price of 22-karat gold had also moved up to Rs 348,762 after gaining Rs 1,258.
In global trade, gold had inched up to $4,214 with a gain of $16. The silver market had shown modest improvement as well, with 24-karat silver per tola at Rs6,102 after a rise of Rs30, and 10-gram silver at Rs5,231 after an increase of Rs26. International silver had been recorded at $58.30, up by $0.30.