Gold prices in Pakistan continued their downward trend for the second consecutive day on Tuesday. The price of 24-karat gold decreased by Rs1,800 per tola, settling at Rs455,736, the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Similarly, the cost of 10 grams of 24-karat gold declined by Rs1,543, reaching Rs390,720. This drop followed Monday’s fall of Rs2,700 per tola, when prices had dropped to Rs457,536.
Earlier in the week, gold prices exhibited significant volatility. On Friday, the price surged by Rs6,900 to Rs460,336 after a Rs3,800 fall on Thursday, which had brought the price down to Rs453,436. The fluctuations reflect a highly unstable domestic bullion market, with sharp daily movements.
For instance, on Wednesday, September 16, gold prices rose by Rs7,900 per tola to Rs457,236, only to fall by Rs3,800 the following day. The previous week also saw notable swings, including declines of Rs4,000 on Tuesday and Rs3,800 on Monday, followed by a rebound on Friday.
On Monday, the price of 10 grams of 24-karat gold stood at Rs392,263 after a Rs2,315 decrease. Meanwhile, the international gold price also slipped by $27 to $4,350 per ounce on the same day.
In the global market, gold faced downward pressure on Monday, with spot prices dropping 0.6 percent to approximately $4,349.94 per ounce. This decline was influenced by a stronger US dollar and market expectations of further monetary tightening, which dampened demand for the precious metal.
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