Gold prices in Pakistan continued to decline on Tuesday, following the downward trend seen in the international market.
In the domestic market, the price of gold per tola dropped by Rs14,000, closing at Rs416,362. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10-gram gold also decreased by Rs12,003, settling at Rs356,963.
A day earlier, on Monday, gold prices had already fallen, with the per tola rate slipping by Rs3,300 to close at Rs430,362.
Globally, gold prices also recorded a decline, standing at $3,940 per ounce (including a $20 premium), reflecting a loss of $140, as reported by APGJSA. Silver prices in the local market followed the same trend, falling by Rs173 per tola to Rs4,924.
However, international gold prices later rebounded on Tuesday, climbing back above the $4,000-per-ounce level. The recovery was supported by a weaker U.S. dollar and growing expectations of additional Federal Reserve rate cuts, which offset concerns about easing U.S.-China trade tensions.
As of 0141 GMT, spot gold was up 0.7% at $4,009.39 per ounce after falling more than 3% on Monday, its lowest point since October 10. U.S. gold futures for December delivery also edged higher by 0.1% to $4,022.10 per ounce.