The continuous rise in gold prices has finally come to a halt, bringing relief to buyers.
A major drop has been recorded in both Pakistani and global bullion markets, with gold and silver rates falling sharply on Tuesday.
Gold per tola in Pakistan has decreased by Rs 13,900, bringing the new price down to Rs 549,962. The drop marks one of the most significant single-day declines in recent weeks, ending the persistent upward trend in the local bullion market.
Similarly, the price of 10 grams of gold has fallen by Rs 11,917. It is now being traded at Rs 471,503 in the domestic market.
The decline reflects the impact of international market movements on local gold rates, which are calculated based on interbank exchange rates.
International gold market update
In the global market, gold per ounce has become cheaper by $139. The new international gold price now stands at $5,272 per ounce.
The correction in global bullion prices directly influenced the downward adjustment in Pakistan’s gold market.
Silver prices also witness sharp fall
Silver prices also followed the same trend. The price of silver per tola in Pakistan has decreased by Rs 1,146, reaching Rs 8,904.
The decline in silver rates mirrors the broader correction seen in precious metals across international markets.
