The price of gold in Pakistan experienced a slight decline on Tuesday, even as the international market saw an increase.
According to the Karachi Sarafa Association, the price of 24-carat gold fell by Rs. 500 per tola, settling at Rs. 256,000. Similarly, the price of 10 grams of gold decreased by Rs. 428, reaching Rs. 219,479.
This decline follows a record high of Rs. 257,300 per tola achieved last Friday. The price of gold had already dropped over the weekend, with reductions observed on both Saturday and Monday. The decrease on Monday was relatively minor, amounting to Rs. 300 per tola.
In contrast, the international market saw spot gold rise by 0.3 percent to $2,413.90 per ounce by 1134 GMT. US gold futures also increased, climbing 0.5 percent to $2,455.30 per ounce.
It is noteworthy that gold prices had fallen nearly 3 percent in the previous session, driven by a global sell-off amid fears of a potential US recession.
