The bullion market in Pakistan experienced another downward correction on Tuesday, directly reflecting a cooling trend in global precious metal trading. For buyers and investors, the shift marks the second consecutive day of falling rates.
Domestic Gold Rates Continue to Slide
According to the latest data released by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the benchmark rate for 24-karat gold shed Rs. 1,000 during Tuesday’s trading session. This drop brought the price down to Rs. 462,136 per tola.
A proportional decrease was also recorded in smaller quantities, with the price of 10-gram gold dropping by Rs. 857. The 10-gram rate subsequently settled at Rs. 396,207.
This latest slump compounds the losses from earlier in the week. On Monday, the domestic market absorbed an even sharper decline, with gold losing Rs. 2,400 to close that session at Rs. 463,136 per tola.
International Pressures and Silver Margins
The domestic softening of gold prices is heavily tied to overseas market dynamics. In the international arena, the value of gold dipped by $10. This brought the global rate down to $4,396 per ounce, a figure that includes a standard $20 premium.
Interestingly, while gold trended downwards, silver managed to defy the broader metal slump with a marginal uptick. Silver rates in the local market increased by Rs. 10 on Tuesday, closing the day at Rs. 7,069 per tola.