Gold prices in Pakistan witnessed a notable decline on Tuesday, driven by a downward trend in the international bullion market.
According to market sources, the price of 24-karat gold dropped by Rs1,000 per tola, bringing the new rate to Rs361,300. Similarly, the price of 10 grams of gold fell by Rs857, now standing at Rs309,756.
Analysts attribute the price dip to weakening demand and a decline in global gold prices. “The local market is closely tracking international trends. As gold prices dropped globally, domestic rates adjusted accordingly,” said a leading bullion trader.
The international gold market has seen fluctuations in recent days due to a stronger U.S. dollar and shifting investor sentiment amid ongoing geopolitical uncertainties and interest rate expectations.
Investors and traders continue to monitor the global financial landscape, which remains a key factor influencing precious metal prices in local markets.
The decline offers some relief to consumers, especially ahead of the upcoming wedding season when gold demand typically rises in Pakistan. However, market experts advise caution, noting that prices may remain volatile in the short term.
