Gold price drops locally amid global decline

The price of gold per tola declined by Rs1,600 and price of 10 grams of gold decreased by Rs1,372

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Gold prices fell in both international and domestic markets on Tuesday, driven by a notable decline in global bullion rates.

According to market reports, the price of gold in the international bullion market dropped by $16 per ounce, settling at $3,320. In response to the global dip, domestic prices in Pakistan also fell.

The price of gold per tola declined by Rs1,600, bringing it down to Rs354,700. Similarly, the price of 10 grams of gold decreased by Rs1,372, now standing at Rs304,098.

Analysts attribute the decline to global market adjustments and currency fluctuations, with investors awaiting key economic indicators from major economies.