Gold prices continued their downward trend in both local and international markets during the ongoing business week, bringing relief to buyers.
According to the latest figures released by the All Pakistan Gems and Jewellers Association, the price of 24-karat gold per tola dropped by Rs5,600 on Tuesday, bringing the new price to Rs424,136.
Similarly, the price of 10 grams of gold fell by Rs4,801, settling at Rs363,628.
The decline was also reflected in the international market, where the price of gold decreased by $56 per ounce, reaching $4,017 per ounce.
This marks the second major decline in gold prices during the current business week. On Monday, the price of gold had already fallen by Rs3,800 per tola, while the price of 10 grams declined by Rs3,258. In the global market, gold had dropped by $38 per ounce to $4,073 per ounce.
Market analysts attribute the continued decline to changing trends in international bullion markets, which have also impacted domestic gold prices.
