KARACHI: Gold prices in Pakistan declined for the third consecutive day on Tuesday. The local market followed a similar downward trend in international prices.
According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), 24-karat gold fell by Rs1,800 per tola.
The price settled at Rs455,736 per tola on Tuesday. This marks another decline after prices dropped during the previous trading session.
The price of 10 grams of 24-karat gold also decreased. It fell by Rs1,543 to settle at Rs390,720.
Gold prices had already recorded a significant decline on Monday. The precious metal lost Rs2,700 per tola during that session.
It closed at Rs457,536 per tola on Monday. Tuesday’s decline extended the downward movement in the domestic market.
The latest decrease also followed a fall in international gold prices. Global market movements often influence local bullion rates in Pakistan.
In the international market, gold dropped by $18 per ounce on Tuesday. It settled at $4,332 per ounce, including a $20 premium.
The international price movement contributed to the decline in local rates. Market participants continue to monitor global bullion trends.
Gold remains an important investment and trading asset in Pakistan. Its price can change daily based on international market movements.
Currency exchange rates can also affect local bullion prices. Changes in global demand and investor activity can influence gold values.
Meanwhile, silver prices also moved lower during Tuesday’s trading session. Silver declined by Rs62 per tola.
The price of silver settled at Rs7,038 per tola. This followed the broader weakness seen in the precious metals market.
The latest figures show continued pressure on precious metals in both domestic and international markets. However, prices can change again with the next trading session.
Jewellers and investors closely watch international bullion prices before setting local rates. The APGJSA provides the benchmark figures for the domestic market.
The three-day decline has brought the local Gold price lower from its recent levels. Tuesday’s rate now stands at Rs455,736 per tola.
Further movements will depend on international market trends and other factors. Investors will continue watching the global Gold market for fresh signals.
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For now, the domestic market has recorded another decline in Gold prices. Silver has also ended Tuesday’s session at a lower rate.
