Gold prices in Pakistan continued their downward trend on Tuesday, with the value of 24-karat gold dropping by Rs500 per tola, settling at Rs240,000.

This decrease follows a substantial decline last week, when the price of 24-karat gold fell by Rs6,400 per tola. This marks a cumulative loss of Rs14,200 per tola, or approximately 5.63 per cent, over the past two weeks.

The Karachi Sarafa Association reported that the price of 24-karat gold for 10 grammes also dropped by Rs429, reaching Rs205,761.

The price of 22-karat gold was quoted at Rs188,615 per 10-gramme, reflecting the broader trend of falling gold prices in the domestic market.

Silver prices, however, remained steady, with 24-karat silver maintaining a consistent rate of Rs2,620 per tola and Rs2,254.8 per 10-gramme, providing some stability in the otherwise volatile precious metals market.

On the global front, international spot gold experienced a slight decline, trading near $2,314.5 per ounce, a 0.41 per cent drop compared to the previous session.