Gold prices fall for third consecutive session, dropping by Rs2,000 per tola

Gold prices in Pakistan continued their downward trend for the third consecutive session on Tuesday, mirroring the decline in international markets.

The price per tola of gold fell by Rs2,000 to settle at Rs241,900, according to data released by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

In the local market, the cost of 10 grammes of gold decreased by Rs1,715, bringing the price to Rs207,390. This marks a notable reduction compared to the previous day’s loss of Rs500 per tola.

The drop in local gold prices corresponds with a fall in the international market.

According to the APGJSA, the global price of gold reached $2,316 per ounce, which includes a premium of $20, after a single-day decrease of $19.

Silver prices also saw a decline, with a reduction of Rs20, bringing the price down to Rs2,630 per tola.

Over the past three sessions, gold prices in Pakistan have fallen by Rs3,100 per tola, a significant correction from the record high of Rs252,200 per tola earlier this month.

This continued downward trend suggests a possible easing of demand or adjustments in the international gold market.