KARACHI: Gold prices fell further in both local and international markets on Tuesday, according to the All Pakistan Sarafa Gems and Jewellers Association.
The price of gold fell by Rs800 per tola in the local market to Rs465,336.
The price of 10 grams of gold dropped by Rs686 to Rs398,950.
Silver prices also declined in the local market. The price of 24-karat silver fell by Rs50 per tola to Rs7,129. The price of 10 grams of silver dropped by Rs43 to Rs6,111.
In the international market, gold fell by $8 per ounce to $4,428. Silver also declined by 50 cents to $66.50 per ounce.
Gold prices had fallen by Rs1,800 per tola in the local market on the previous day.
Changes in global gold prices, movements in the US dollar, expectations about interest rates and investor sentiment can influence prices in Pakistan’s local market.
Sarafa dealers said local gold prices could fall further if international prices continue to decline.
