Gold prices in Pakistan experienced a sharp decline on Tuesday as the global market faced a downturn. The price per tola dropped by Rs700, settling at Rs359,000. This decrease followed an increase of Rs1,500 on Monday.
The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that the price of 10 grams of gold also decreased, losing Rs600 and selling for Rs307,784 in local markets.
In the international market, gold prices fell by $7 per ounce, reaching $3,365. This price included a premium of $20, which impacted local rates.
Silver prices also decreased, dropping by Rs73 per tola. The new price of silver is now Rs4,014, reflecting a similar downward trend in precious metals.
Experts indicate that global economic factors and changing investor sentiments significantly influence local prices. Traders are advised to monitor international markets to make informed decisions.
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