Gold price falls Rs1,500 per tola in Pakistan

Gold prices in Pakistan fell on Tuesday in line with a downward trend in the international bullion market.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola dropped by Rs1,500, settling at Rs358,000. Similarly, the rate for 10 grams of gold fell by Rs1,286, reaching Rs306,927.

The decline comes a day after gold prices had climbed modestly with per tola rates rising by Rs500 on Monday to Rs359,500.

In the global market, gold also saw a drop. APGJSA said that the international price at $3,353 per ounce (inclusive of a $20 premium), reflecting a decrease of $15 over the previous session.

Meanwhile, silver prices moved in the opposite direction. The price of silver per tola increased by Rs18, reaching Rs3,971.

Analysts suggest that fluctuations in international prices, along with currency movements and local demand dynamics, continue to influence bullion rates in the domestic market.