Gold prices in Pakistan fell by Rs500 per tola on Tuesday, reflecting a broader decline in international gold rates. The new rate for gold in the local market now stands at Rs256,000 per tola.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of gold also decreased, dropping by Rs428 to reach Rs219,479. This comes on the heels of a Rs300 reduction per tola reported on Monday.
Internationally, gold prices saw a decrease on Tuesday, with the global rate falling to $2,410 per ounce, which includes a $20 premium. This decline represents a loss of $17 during the day.
In addition, silver prices saw a decrease of Rs50 per tola, now priced at Rs2,850.
The recent drop follows a significant increase last week, when gold prices surged by Rs2,400 to an all-time high of Rs257,300 per tola.