Gold prices fall Rs1,000 per tola in Pakistan amid global decline

Gold prices in Pakistan declined on Tuesday, in line with a fall in international rates, according to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The price of 24-karat gold dropped by Rs1,000 per tola to Rs500,162. Similarly, the rate for 24-karat gold per 10 grams decreased by Rs857 to Rs428,808.

The price of 22-karat gold was also recorded lower at Rs393,088 per 10 grams.

Silver prices followed the same trend in the domestic market. The price of 24-karat silver fell by Rs59 per tola to Rs8,358, while the rate per 10 grams declined by Rs51 to Rs7,165.

Market analysts attributed the decline to a drop in global gold prices. In the international market, spot gold was trading near $4,785 per ounce, down by $36.1 or 0.75% from the previous session.

The decrease in global prices was linked to a stronger US dollar, which typically reduces demand for gold, along with investor caution amid ongoing geopolitical developments.