Gold price drops to Rs274,900 per tola following latest decline

KARACHI: Gold prices in Pakistan continued their downward trend on the second trading day of the week, reflecting a decline in international market rates.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola in the local market fell by Rs600, settling at Rs274,900.

Similarly, the price of 10-gramme gold dropped by Rs515, reaching Rs235,682. Since the start of the week, gold prices have declined by a total of Rs1,100 per tola compared to Saturday’s rate.

On Monday, the gold price had already decreased by Rs500 to settle at Rs275,500.

In the international market, gold prices also fell on Tuesday. As reported by APGJSA, the international rate stood at $2,647 per ounce (including a premium of $20), marking a decline of $6 during the day.

Silver prices, however, remained stable at Rs3,050 per tola.

Last week, gold prices in Pakistan reached a record high of Rs277,000 per tola.

Experts attribute the recent fluctuations in gold prices to several global factors, including escalating geopolitical tensions in the Middle East, interest rate cuts by the Federal Reserve, and rising demand from major markets like China and India.

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