KARACHI: Gold prices extended their downward trend for a third consecutive day on Tuesday, with rates declining in both international and domestic markets amid continued weakness in global commodity prices.
According to market data, the international bullion market saw the price of gold fall by $25 per ounce, bringing it down to $4,125 per ounce.
Following the decline in global prices, Pakistan’s local bullion market also recorded a significant decrease. The price of 24-karat gold per tola dropped by Rs2,500 to Rs434,936, while the price of 10 grams of gold fell by Rs2,143 to Rs372,887.
Market analysts attributed the continued decline in precious metal prices to the ongoing downward trend in global crude oil prices, which has contributed to softer demand across commodity markets, including gold and silver.
The latest decline marks the third straight day of falling gold prices in Pakistan, reflecting movements in the international bullion market.
Also Read: Gold prices fall in Pakistan as per tola rate drops to Rs437,436 on July 6
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