Gold prices in Pakistan declined on Tuesday in line with a drop in international rates. In the local market, the price fell by Rs2,100 per tola, bringing it down to Rs477,862 per tola.
The price of 10-gram gold also went down by Rs1,801, settling at Rs409,689. These rates were shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
A day earlier, on Monday, gold had already recorded a sharp fall of Rs3,800 per tola, closing at Rs479,962 per tola.
On the global front, prices also moved lower. The international rate dropped by $21 to reach $4,555 per ounce, which includes a $20 premium.
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Silver prices followed the same trend in the local market. The price of silver decreased by Rs65 per tola and settled at Rs7,849.
According to market analysts, the decline is linked to weaker global demand and changes in currency values. As international prices eased, investors held back on buying, which also affected Pakistan’s bullion market during trading.
Jewellers believe prices may continue to fluctuate in the short term. They expect local rates to move in line with global trends, while traders remain focused on international economic signals for the next direction in prices.