Gold prices in Pakistan fell on Tuesday, mirroring a decrease in international rates. In the local market, the price of gold per tola dropped by Rs1,000, bringing it down to Rs261,500, according to figures from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The price of 10-gramme gold also decreased, shedding Rs857 to settle at Rs224,194. This decline follows a period of stability, as gold prices remained unchanged at Rs262,500 per tola on Monday.
Last month, gold prices in Pakistan reached an all-time high of Rs263,700 per tola, causing concern among non-investors, potential buyers, and individuals purchasing the precious metal for weddings or as a safeguard for their earnings.
On the international front, gold prices also saw a reduction on Tuesday. APGJSA reported that the international rate stood at $2,498 per ounce (including a $20 premium), marking a decrease of $5 for the day.
Meanwhile, silver prices remained stable at Rs2,950 per tola.