Gold became cheaper in Pakistan on Tuesday as local rates reflected a drop in the global bullion market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold prices per tola declined by Rs1,600, reaching Rs354,700.
The price for 10 grams also decreased to Rs304,098, showing a fall of Rs1,372. This comes after Monday’s minor drop of Rs100 per tola, which had pushed the rate to Rs356,300.
The downward movement was in line with the international market, where gold lost $16 per ounce. The global price stood at $3,320, which included a $20 premium, as per APGJSA estimates.
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In contrast, the silver market showed no change. The silver rate remained fixed at Rs3,963 per tola.
Traders suggest that global market pressure, ongoing economic concerns, and changes in global investment trends are playing a role in the recent shift in gold pricing. They believe that gold, which had recently surged to all-time highs, may now be entering a short-term correction phase.
Investors in Pakistan continue to track these developments closely, especially amid fluctuations in currency and inflation. While the recent dip may encourage some to buy, others may wait for signs of further price adjustment.