KARACHI: Gold prices in Pakistan fell on Tuesday, extending losses from the previous session as domestic bullion tracked a downturn in international markets, local trade data showed.<\/p>\n\n\n\n
The price of 24-karat gold in the domestic market plunged by Rs4,100 per tola (11.66 grams) to settle at Rs424,836 ($1,525.43), according to data shared by the All Pakistan Gems and Jewelers\u2019 Association (APGJA).<\/p>\n\n\n\n
The price for 10 grams of the precious metal decreased by Rs3,515 to trade at Rs364,228.<\/p>\n\n\n\n
Local dealers said the sharp contraction 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.<\/p>\n\n\n\n
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.<\/p>\n","protected":false},"excerpt":{"rendered":"
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