Gold prices in Pakistan extended their losing streak for the fourth consecutive trading session on Tuesday. The latest decline pushed the price of 24-karat gold below Rs435,000 per tola, offering temporary relief to buyers after recent record highs.
The downward trend follows weakness in international bullion markets and increased profit-taking by investors. Market analysts said the correction comes after gold reached elevated levels during previous trading sessions.
According to the latest market rates, the price of 24-karat gold dropped by Rs2,500 per tola. The new price now stands at Rs434,936, moving below the Rs435,000 level for the first time in several days.
The price of 10 grams of 24-karat gold also declined. It fell by Rs2,143 to settle at Rs372,887.
Meanwhile, the rate for 10 grams of 22-karat gold decreased by Rs1,300. The new price was recorded at Rs341,825.
Silver prices also witnessed a decline in the domestic market. The price of 24-karat silver dropped by Rs120 per tola to Rs6,559.
Similarly, the price of 10 grams of silver decreased by Rs103. It settled at Rs5,623 following the latest market adjustment.
The fall in Pakistan’s bullion market mirrored losses in international precious metal markets. Global gold prices declined by $25 per ounce and were trading at $4,125 per ounce.
International silver prices also moved lower. The metal lost $1.20 per ounce and was trading at $60.80.
Analysts said the recent correction was mainly driven by profit-taking. Many investors chose to secure gains after gold prices reached historic highs during recent sessions.
Experts also pointed to reduced speculative buying in international markets. They said lower trading activity has contributed to the recent decline in precious metal prices.
Despite the latest correction, market observers noted that gold continues to trade at historically elevated levels. They believe ongoing global economic uncertainty continues to support long-term demand for safe-haven assets.
Investors around the world often turn to gold during periods of financial uncertainty. This demand has kept prices significantly higher than levels seen in previous months.
The latest decline below Rs435,000 per tola has attracted attention from local buyers. Some traders believe lower prices could encourage renewed purchasing activity in the domestic market.
However, analysts caution that gold prices remain highly sensitive to international developments. Changes in global interest rates, inflation expectations and geopolitical events may continue to influence market direction.
Although prices have declined for four consecutive sessions, experts say further movements will depend largely on global bullion trends and investor sentiment. For now, the fall below Rs435,000 per tola marks a notable shift after last week’s strong rally, while gold continues to remain expensive by historical standards.
In other news read more about: Gold Prices Fall Again in Local and Global Markets
