Gold prices in Pakistan continued their downward trend for the third consecutive day on Tuesday, mirroring losses in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola declined by Rs2,500 to Rs434,936, while per 10 grams fell by Rs2,143 to Rs372,887.
Global Market Impact
In the international bullion market, gold prices dropped by $25 per ounce to $4,125. The decline was driven by investors weighing mixed signals from the US economy, which influenced safe-haven demand.
Silver Prices Also Decline
Silver prices also faced losses, with per tola falling by Rs120 to Rs6,559, and per 10 grams decreasing by Rs103 to Rs5,623, as reported by the APGJSA.
Previous Day's Trend
On Monday, gold prices in Pakistan had already declined, tracking international losses. The per tola rate stood at Rs437,436 after falling by Rs2,400, and 10-gram gold was traded at Rs375,030, down Rs2,058. On Saturday, gold per tola closed at Rs439,836 after a decline of Rs1,100.
Market Outlook
The continuous decline in gold prices reflects global economic uncertainties and shifting investor sentiment. Market participants are closely monitoring US economic data for further cues on the direction of bullion prices.
