Gold lost ground in both local and global markets on Tuesday, halting a two-day rally that had seen prices climb steadily.
According to figures shared by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold declined by Rs1,500 per tola, now priced at Rs358,000. The cost of 10 grams of gold also dropped, settling at Rs306,927, after a reduction of Rs1,286.
Read More: Slight Global Rise Pushes Gold Up in Pakistan
Internationally, gold prices softened as well, with the value per ounce falling by $15, bringing it to $3,353. The dip comes after recent highs that had sparked investor interest across global markets.
However, silver prices moved in the opposite direction. The rate for one tola of 24-karat silver climbed to Rs3,971, while 10 grams reached Rs3,404. Analysts believe this could be due to increased demand for silver in industrial and jewellery sectors.
