Pakistan Gold Prices Plummet for Second Straight Day
Gold prices in Pakistan have dropped for the second consecutive day due to declining international bullion markets. The price of 24-karat gold per tola fell by Rs4,600 to settle at Rs427,436, while the price of 24-karat gold per 10 grams decreased by Rs3,944 to Rs366,457.
The latest decline comes after a day when gold prices had already fallen by Rs1,800 per tola, taking the total reduction over the past days to Rs6,400 per tola. The price of international gold also declined by $46 per ounce, closing at $4,050 per ounce.
Market analysts say local gold prices are influenced by global bullion rates and factors like the rupee-dollar exchange rate and market adjustments. They warn that the bullion market remains volatile, with future price movements dependent on international economic conditions, currency changes, and changing investor sentiment.