Gold price falls after over Rs8,000 per tola increase in last four days

Gold prices declined by Rs700 per tola on Tuesday, settling at Rs359,000 compared to Rs. 359,700 on the previous trading day, according to the All Pakistan Sarafa Gems and Jewellers Association.

This comes after a sharp increase of Rs8,200 per tola over the past four days, which had brought gold prices close to the Rs360,000 milestone.

The price of 10 grams of 24-karat gold also dropped by Rs600, reaching Rs307,784 from Rs308,384.

Similarly, 10 grams of 22-karat gold declined by Rs550, now priced at Rs282,145.

Silver rates also saw a decline, with per tola and 10-gram prices falling by Rs73 and Rs62, to Rs4,014 and Rs3,441 respectively.

In the international market, gold prices fell by $7, from $3,372 to $3,365 per ounce, while silver dropped by $0.73 to $38.30 from $39.03, the Association reported.