Gold prices in Pakistan fall Rs600 per tola after four-day winning streak
“Gold prices in Pakistan declined on Tuesday after rising for four consecutive days, providing some relief to buyers as rates also eased in the international market. Association, the price of 24-karat …”
Association, the price of 24-karat gold per tola dropped by Rs600 to Rs486,536. The price of 10 grams of 24-karat gold declined by Rs514, settling at Rs417,126. The decline in domestic bullion prices followed a slight correction in the international gold market, where the precious metal fell by $6 per ounce to $4,640.
Silver prices also moved lower in the domestic market., the price of silver declined by Rs100 per tola to Rs7,279. The latest fall comes after four consecutive days of increases in gold prices in Pakistan and the international market. Despite Tuesday's decline, gold remains at historically high levels in the domestic market, keeping jewellery and bullion purchases expensive for consumers.
Market experts have indicated that gold could still cross the psychologically important Rs500,000-per-tola mark during the current month if the upward trend in international bullion prices resumes. Domestic gold rates are influenced by movements in international bullion markets as well as changes in the rupee-dollar exchange rate.
"Stay connected with Aman-e-Pakistan for ongoing live reporting and verified investigative updates."
Any renewed rise in global gold prices or pressure on the Pakistani rupee could therefore push local rates higher despite Tuesday's decline.
Written by Fawad Khan
Aman-e-Pakistan Senior Journalist & Bureau Reporter
Continue Reading: More in National
Swipe or click arrows to explore National desk coverage
