Gold prices fall in Pakistan amid global downturn

The price of gold in Pakistan fell by Rs2,000 per tola on Tuesday, following a drop in international gold prices.

The gold was priced at Rs318,000 per tola in the local market, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The price of 10 grams of gold also declined, dropping Rs1,715 to Rs272,633.

Gold prices have been on a downward trajectory due to global economic uncertainties.

On Saturday, the price per tola had reached Rs320,000, following a single-day fall of Rs5,500.

The international price of gold decreased on Tuesday, with the rate dropping by $28 to $3,010 per ounce, according to APGJSA.

Meanwhile, silver prices saw a marginal drop of Rs50, settling at Rs3,170 per tola.