Gold prices in Pakistan recorded their second significant decline in two days on Tuesday, driven by a drop in international market rates. The All-Pakistan Gems and Jewelers Sarafa Association (APGJSA) reported that the price of 24-carat gold dropped by Rs. 4,100 per tola, settling at Rs. 274,300, while the price for 10 grams decreased by Rs. 3,515 to Rs. 235,571. This follows a Rs. 4,300 per tola drop in gold prices yesterday, bringing the total two-day decline to over Rs. 8,000 per tola.
In the international market, spot gold dropped by 0.3 percent to $2,633.99 per ounce as of 1217 GMT today, following a decline of more than 3 percent on Monday.
Gold prices have experienced significant volatility in recent weeks. In the local market, gold surged by Rs. 15,300 last week, following a sharp decline the previous week. During that downturn, prices dropped to around Rs. 266,000 per tola, down from an all-time high of over Rs. 287,000 per tola.