KARACHI – Gold prices in Pakistan witnessed massive losses amid da ownward trend in the international market.
As per Sarafa Association rates, price of gold fell by Rs14,000 per tola, settling at Rs416,362. Similarly, the rate for 10 grams of gold dropped by Rs12,003 to close at Rs356,963.
On Monday, the yellow metal had already witnessed a Rs3,300 decline, finishing the day at Rs430,362 per tola.
The global market also saw a significant dip, with gold prices falling by $140 to $3,940 per ounce (including a $20 premium), as reported by APGJSA.
Silver prices mirrored the trend, decreasing by Rs173 per tola to reach Rs4,924.
Market analysts attribute the ongoing decline in gold prices to fluctuations in the international bullion market and a stronger US dollar, which has reduced investor appetite for the precious metal.
