Gold prices down by Rs4,000 per tola amid decline in international market

Gold prices in Pakistan fell by Rs4,000 per tola on Tuesday, marking the second major decline in the local market this week.

According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-carat gold settled at Rs449,336 per tola after witnessing a decline of Rs4,000.

Similarly, the price of 10-gram gold decreased by Rs3,429 to Rs385,233.

The decline in local gold prices came amid a drop in gold prices in the international market.

The local market had also recorded a decline on Monday, when the price of 24-carat gold fell by Rs3,800 per tola. The price of 10-gram gold decreased by Rs3,258 to Rs388,662.

On the international front, gold prices fell by $38 to $4,308 per ounce during Monday’s trading.

The latest increase in gold prices was recorded on Saturday, when the price rose by Rs400 to Rs457,136 per tola.

The continued decline in international gold prices has also affected the domestic market, with local prices remaining sensitive to movements in the global bullion market.