Gold prices in Pakistan continued their downward trend on Tuesday, with the price of gold falling by Rs1,000 per tola.
According to the All Pakistan Gems and Jewellers Sarafa Association, the price of gold dropped to Rs462,136 per tola. The price of 10 grams of gold also declined by Rs857 to Rs396,207.
Gold also became cheaper in the international market, where the price fell by $10 to $4,396 per ounce. The domestic gold price had already declined by Rs2,400 per tola a day earlier.
Gold prices are influenced by international bullion rates, movements in the US dollar, global economic uncertainty, geopolitical tensions and expectations about interest rates. In Pakistan, fluctuations in the rupee-dollar exchange rate also play an important role in determining local gold prices.
