KARACHI: Gold prices in Pakistan extended their decline for a second consecutive day, dropping by Rs600 per tola, offering some relief to buyers.
As reported by the All Pakistan Sarafa Gems and Jewellers Association, this latest reduction has brought the price of gold per tola down to Rs466,162 in the domestic market.
Similarly, the price of 10 grams of gold witnessed a decrease of Rs515, settling at Rs399,658.
Market insiders highlighted that gold prices have been trending downward, reversing the gains observed in preceding weeks. This local drop mirrors a similar decline in international gold rates.
According to the association, global gold prices fell by $6 per ounce, reducing the international rate to $4,438 per ounce.
Analysts link this continued drop in gold prices to volatility in the global bullion market and shifting investor sentiment. They suggest that future price movements will mainly hinge on global economic indicators and currency trends in the days ahead.
