KARACHI: Gold prices recorded a sharp decline on June 11 in both international and local markets, with global bullion rates falling significantly and domestic prices following the downward trend.

The latest drop affected investors, traders, jewellers, and consumers across Pakistan as local bullion markets adjusted to weaker international gold prices. The decline comes amid continued volatility in global commodity markets.

According to market data, the international gold price fell by $126.27 per ounce, bringing it down to around $4,200 per ounce.

Following the decline in global markets, the price of 24-karat gold in Pakistan dropped by Rs12,627 per tola, settling at Rs442,436.

The latest fall comes a day after gold prices jumped Rs2,830 per tola in Pakistan amid gains in international bullion markets.

Gold Prices Jump Rs2,830 Per Tola In Pakistan Amid Global Market Gains

However, the sharp decline recorded on June 11 more than reversed the previous day’s increase, highlighting the ongoing volatility in global and domestic gold markets.

Market analysts said fluctuations in international precious metals markets continue to influence local bullion rates, with movements in global prices often reflected quickly in Pakistan’s gold market.

The recent swings in gold prices have kept investors and traders focused on developments in international commodity markets, which remain a key driver of domestic bullion trends.