ISLAMABAD: Gold prices in Pakistan fell sharply on Tuesday, mirroring losses in the international bullion market. Traders reported weaker demand as global rates moved lower, pushing local prices down for a second consecutive session.
Gold Rates Fall in Local Market
According to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola dropped by Rs9,000 to Rs514,762 during the day.
Similarly, the price of 10-gram gold declined by Rs7,716 and settled at Rs441,325 in the local market.
A day earlier, gold per tola had closed at Rs523,762 after posting a Rs3,200 decline on Monday. As a result, the two-day drop in gold prices has now reached Rs12,200 per tola, reflecting a stronger downward trend.
International Gold Price Slides by $90
In the global market, gold prices also recorded a steep fall. The international rate dropped by $90 to $4,920 per ounce, including a premium of $20.
Market observers said international movements continue to play a direct role in shaping domestic gold rates, especially as local prices typically adjust in line with global trends.
Silver Prices Also Ease
Meanwhile, silver prices also softened in Pakistan on Tuesday. The price of silver per tola fell by Rs150 and reached Rs8,014.
Analysts said the decline in both gold and silver suggests broader weakness in precious metals, as investors respond to shifting global sentiment. However, jewellers expect price movement to remain volatile in the coming days due to rapid changes in international rates and currency trends.
