The price of gold in Pakistan edged lower on Tuesday after posting a sharp increase a day earlier, with the local market recording a decline of Rs800 per tola amid a modest fall in international bullion prices.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold fell by Rs800 per tola, taking the price to Rs437,336 from the previous level.
The price of 10-gram gold also declined by Rs686 to Rs374,945, according to the association.
In the international market, gold prices fell by $8 per ounce to $4,148, reflecting a modest correction after the strong gains recorded in the previous session.
The latest decline in domestic gold prices follows a period of sharp volatility in both local and international bullion markets, where prices have been responding to movements in global gold rates and broader market expectations.
Despite Tuesday’s decline, gold prices remain at historically high levels in the domestic market, keeping the precious metal expensive for jewellery buyers and investors.
The difference between the previous day’s price and the latest rate also highlights the sensitivity of Pakistan’s gold market to movements in international bullion prices. Even relatively small changes in the global benchmark can translate into noticeable changes in local prices.
Market participants will continue to monitor international gold prices for further direction, particularly as any renewed movement in global bullion rates could affect domestic prices in the coming sessions.