Gold prices in Pakistan witnessed a notable decline on Tuesday, reflecting a downward trend in international markets.
According to the All Pakistan Gems and Jewellers Association, the price of gold per tola fell by Rs. 2,300, bringing the new rate to Rs. 341,900. Similarly, the price of 10 grams of gold dropped by Rs. 1,972, now standing at Rs. 293,124.
The local price adjustment comes in response to a dip in the global bullion market, where gold slipped $23 to settle at $3,235 per ounce.
Market analysts attribute the fall to profit-taking by investors and expectations of future interest rate adjustments by central banks, which have put downward pressure on gold as a safe-haven asset.
