KARACHI: Gold prices in Pakistan fell sharply on Tuesday following a decline in international bullion markets, according to local market data.
The price of one tola of gold dropped by Rs. 2,400, bringing the new rate to Rs. 475,362 per tola.
Similarly, the price of 10 grams of gold decreased by Rs. 2,057 rupees to Rs. 407,546 rupees.
Traders said the decline came amid weakness in the global market, where the price of gold fell by $24 per ounce to $4,530.
Silver prices also witnessed a significant decrease. The price of silver in the global market fell by $1.53 per ounce to $76.33, triggering a downward trend in local markets.
In Pakistan’s bullion markets, the price of one tola of silver decreased by Rs. 153 rupees to Rs. 8,117 rupees, while the price of 10 grams of silver fell by Rs. 131 rupees to Rs. 6,959 rupees.
More read, Gold prices surge in Pakistan as global market rallies
Earlier, Gold prices in Pakistan registered a sharp increase on Monday following a significant rise in international bullion markets, traders said.
According to market rates, the price of one tola of gold climbed by Rs.4,600, taking it to Rs.477,762.
The price of 10 grams of gold also increased by Rs.3, 943, reaching Rs.409, 603.
Silver prices also recorded a notable increase in both global and local markets. Internationally, silver gained $2.36 per ounce to reach $77.86.
Following the global rise, the price of one tola of silver in local bullion markets increased by Rs236 to Rs8,270, while the price of 10 grams of silver rose by Rs203 to Rs7,090.
