Key Points:
- Declining international market entails gold losing Rs 4,000 per tola in Pakistan
- Global gold price drops $40 per ounce
- Volatility persists after sharp gains earlier in the week
- Silver holds firm at record high
ISLAMABAD: Gold prices in Pakistan fell sharply on Tuesday, tracking losses in the international bullion market, as investors booked profits after recent record highs and reacted to global market signals.
According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold declined by Rs 4,000 per tola to settle at Rs 450,862. The price of 10 grams of gold also dropped by Rs 3,429, closing at Rs 386,541.
The decline followed a volatile trading pattern. On Monday, gold prices had surged by Rs 2,600 per tola, pushing the rate to Rs 454,862, reflecting strong investor demand and global uncertainty.
In the international market, gold prices slipped by $40 to reach $4,285 per ounce, including a $20 premium. Analysts attribute the pullback to profit-taking after recent rallies, movements in the US dollar, and expectations around global interest rate policies.
Despite the decline, market participants note that gold remains near historically elevated levels, supported by geopolitical tensions, central bank buying, and ongoing concerns over inflation and global economic stability.
Meanwhile, silver prices remained unchanged at Rs 6,532 per tola, maintaining their all-time high, indicating sustained demand for the white metal amid broader volatility in precious metals markets.
Traders said short-term fluctuations are likely to continue, with local prices remaining closely tied to movements in the international market and currency dynamics.
