Gold prices recorded a significant decline in Pakistan on Tuesday, following a downward trend in both local and international bullion markets.
On June 23, the price of gold per tola dropped by Rs10,400, bringing it down from Rs442,636 to Rs432,236. Likewise, the rate for 10 grams of gold decreased by Rs9,360, settling at Rs368,985 compared to the previous price of Rs378,345.
The decline mirrored developments in the global market, where gold prices fell by $104 per ounce. International gold rates closed at $4,098 per ounce, including a premium of $20, down from $4,202.
Market analysts said local gold prices generally move in line with international bullion rates and are also influenced by fluctuations in currency exchange values.
Silver prices also moved lower during the day. The price of silver per tola declined by Rs487, reducing its rate from Rs7,151 to Rs6,664.
The notable drop in both gold and silver prices has provided some relief to buyers and investors. However, experts note that precious metals remain highly volatile, with domestic prices continuing to reflect changes in global market conditions and investor sentiment.
The latest decline highlights the ongoing uncertainty in international bullion markets, which continues to influence gold and silver rates in Pakistan.
Also Read:Huge Drop in Gold Prices in Pakistan
