Gold price in Pakistan registered big drop on Tuesday after extending losses in international markets, reported 24NewsHD TV Channel.
According to data shared by the All Pakistan Gems and Jewelers’ Association (APGJA), the price of 24-karat gold in the domestic market plunged by Rs4,100 per tola (11.66 grams) to settle at Rs424,836.
The price for 10 grams of the precious metal decreased by Rs3,515 to trade at Rs364,228.
The gold dealers said the sharp decline was a direct response to a bearish trend in the global market, where spot gold eased by $41 to trade at $4,024 per ounce.
The back-to-back declines follow a drop on Monday, when local tola prices fell by Rs2,300 after international spot gold dipped to $4,065 per ounce.
Gold serves as a traditional safe-haven asset and a hedge against inflation in Pakistan, where domestic jewelry prices are heavily influenced by global benchmarks, currency fluctuations, and local economic conditions.