Gold prices in Pakistan declined on Tuesday, tracking losses in the international market.
In the local market, the price of gold per tola fell by Rs. 1,500 to settle at Rs. 530,562.
Similarly, the price of 10-gram gold dropped by Rs. 1,286 to Rs. 454,871, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Monday, gold prices had surged, with the per tola rate climbing by Rs. 10,900 to Rs. 532,062.
In the international bullion market, after a three-day pause, the price of gold per ounce fell by $15 to $5,082, which translated into lower prices in Pakistan’s local sarafa markets.
In contrast, silver prices surged. In the international market, silver rose by $2.12 to a record high of $111.65 per ounce. Following the global increase, prices in the local market also moved higher, with silver per tola jumping by Rs. 212 to Rs. 11,640, while the price of 10 grams of silver increased by Rs. 182 to Rs. 9,979, touching record levels.