Gold prices in Pakistan experienced a sharp decline on Tuesday, mirroring losses in the international market. According to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs10,400 to reach Rs432,236. Similarly, 10-gram gold was sold at Rs368,985 after a decrease of Rs9,360.
International Market Decline
The international rate of gold declined by $104 to reach $4,098 per ounce, with a premium of $20. This drop influenced the local market, which closely tracks global trends. On Monday, gold price per tola had reached Rs442,636 after a gain of Rs4,643 during the day.
Silver Prices Also Fall
In addition to gold, the price of silver also decreased significantly. Silver fell by Rs487 to reach Rs6,664 per tola, according to APGJSA data.
Market Context
The decline comes amid broader economic developments, including the passage of the federal budget for the next fiscal year by the National Assembly. The budget is expected to impact various sectors, including precious metals.
