Gold prices in Pakistan witnessed a decline on Tuesday, reflecting a downward trend in the international market. In local trading over the last 18 hours, the price of gold per tola decreased to Rs. 446,230, marking a drop of Rs. 1,610 from the day’s opening price of Rs. 447,840. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported this decline as the market navigated through fluctuating international rates.
Internationally, gold prices experienced a notable decrease, with the global rate standing at $4,193.98 per ounce by the end of the trading session. This marks a reduction of $31.08 from the opening price of $4,225.06. The decline was influenced by various factors, including market speculations and adjustments in investor portfolios globally.
Silver prices in the local market followed a different trajectory, with a slight increase noted. The price for silver rose to Rs. 58.04 per tola, compared to Rs. 57.56 at the start of the trading period. This increase of Rs. 0.48 reflects a modest gain in the precious metal’s value, contrasting with the decline observed in gold prices.
Globally, the precious metals market has been under pressure due to economic uncertainties and shifting investor sentiments, which have contributed to the fluctuating prices. The decrease in gold prices aligns with a broader trend seen in international markets, where investors have been cautious due to varying economic indicators and geopolitical tensions.
The local gold market’s performance is closely tied to these international trends, with the APGJSA continuously monitoring fluctuations to provide accurate pricing. As the market continues to react to global cues, the coming days might offer further insights into the direction of precious metal prices in both local and international contexts.
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