Gold prices in Pakistan recorded a significant decline on Tuesday, after which the price per tola fell to Rs 435,436. This change in the local bullion market came after the price of gold fell in the global market.
According to the rates issued by the All Pakistan Gems and Jewelers Bullion Association, gold became cheaper by Rs 3,600 per tola. Similarly, the price of 10 grams of gold fell by Rs 3,086, after which its value became Rs 373,316.
The price of gold also fell in the international market. The global rate per ounce was recorded at $ 4,129 by $ 36. The impact of this decline in the global price was also seen in the bullion market of Pakistan.
There was no change in the price of gold in the local market on the previous business day and the rate per tola remained at Rs 439,036. After the latest decline, there has been some relief in the price of gold for buyers, however, the final price of jewelry may also include manufacturing fees and other expenses.
On the other hand, the price of silver did not change and the rate per tola remained at Rs 6,234.
Daily fluctuations in gold prices may be affected by global market rates, the value of the rupee and local supply and demand. Therefore, it is important to find out the latest rates from the local bullion market before purchasing.
