Gold prices in Pakistan declined significantly on Tuesday, following a downward trend in the international bullion market. The latest drop reduced the value of both gold and silver in local markets.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs5,600, closing at Rs424,136.
Gold Rates Decline Across Local Markets
The price of 10 grams of gold also recorded a notable decrease. It dropped by Rs4,801, bringing the new rate to Rs363,628.
The decline comes just a day after gold prices also moved lower. On Monday, the price of one tola of gold fell by Rs3,800, settling at Rs429,736.
As a result, the precious metal has witnessed consecutive daily losses, reflecting changing trends in the global market.
International Gold Prices Weigh on Local Rates
The decline in Pakistan’s gold prices followed a sharp fall in international bullion rates.
Globally, gold prices dropped by $56, bringing the international rate to $4,017 per ounce, including a $20 premium.
Since Pakistan’s gold market closely follows international price movements, fluctuations in global bullion rates often affect domestic prices.
Silver Prices Also Register Losses
Silver prices also moved lower alongside gold.
The price of silver per tola decreased by Rs50, closing at Rs6,289 in the local market.
The latest decline in both precious metals reflects the broader weakness in global commodity markets. Market participants will continue monitoring international price movements, as they are expected to influence local gold and silver rates in the coming days.
