Gold price per tola falls by Rs14,000 in Pakistan

Gold prices in Pakistan continued to drop on Tuesday, following a fall in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs14,000, reaching Rs416,362.

The price of 10 grams of gold also dropped by Rs12,003, selling at Rs356,963. On Monday, the gold price per tola had declined by Rs3,300, closing at Rs430,362.

International Gold Rates

Globally, gold prices also decreased. The international rate was $3,940 per ounce with a $20 premium, down $140 from the previous day.

Silver prices in Pakistan also fell slightly, with the price per tola dropping Rs173 to Rs4,924.

Market Update

Despite the recent declines, international gold prices regained some ground on Tuesday, rising above $4,000 per ounce. Analysts say this recovery came due to a weaker U.S. dollar and expectations of further Federal Reserve rate cuts, which outweighed concerns about easing U.S.-China trade tensions.

Spot gold was up 0.7% at $4,009.39 per ounce, while U.S. gold futures for December delivery rose 0.1% to $4,022.10 per ounce after a sharp fall of more than 3% on Monday, marking its lowest level since October 10.

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