KARACHI – Gold prices in both local and international markets witnessed decline on Tuesday, as After remaining stable for a day.
Rates shared by Saraffa Association show price of bullion per tola fell by Rs7,000 to Rs. 423,662 whereas price of 10 grams of gold dipped by Rs. 6,002, reaching Rs. 363,221.
In the international market, gold also witnessed a notable drop, with the price per ounce declining by $70 to settle at $4,013.
Gold remains a safe-haven asset, often gaining value during periods of inflation, political uncertainty, and economic instability. However, the recent drop is being linked to a stronger US dollar and increased investor interest in riskier assets.
Last year, Pakistan revised its gold pricing mechanism, under which local gold prices are now set $20 per ounce higher than the international market rate.
