Gold prices in Pakistan witnessed a sharp decline on Tuesday, tracking a downward trend in international markets, according to the All Pakistan Sarafa Gems and Jewellers Association.
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The price of gold per tola dropped by Rs8,900, settling at Rs485,062. Similarly, the rate for 10 grams of gold fell by Rs7,630 to Rs415,862.
In the global market, gold prices also weakened, with the per ounce rate decreasing by $89 to $4,627, reflecting bearish sentiment among investors.
Silver prices followed suit in the domestic market, with per tola rates declining by Rs38 to Rs7,811.
Market analysts attribute the drop to shifting global trends and reduced investor demand, impacting both local and international bullion markets.
