Gold price in Pakistan fall today after recent rally

KARACHI: Gold price in the domestic market saw a sharp reversal today (Tuesday), dropping significantly after recent gains.

The price of gold fell by Rs 2,700 per tola, bringing it down to Rs 444,162 per tola. Similarly, 10 grams of gold decreased by Rs 2,315, settling at Rs 380,797.

This comes after a period of strong upward momentum in the domestic market. On Monday, gold had surged by Rs 2,700 per tola, reaching Rs 446,862, following an earlier increase of Rs 8,000 over the previous two days. In the international market, gold had also registered gains, climbing $27 to $4,245 per ounce.

Silver prices, which had gained Rs 54 per tola on Monday to reach Rs 5,963, also saw fluctuations amid the changing market trend.

Analysts attribute the recent decline to profit-taking by investors after the metal’s sharp rally, coupled with a stabilising US dollar. Over the past week, despite the recent dip, gold has still seen a net weekly gain of around Rs 12,000, highlighting continued volatility in the market.