Gold Prices Continue to Fall, Per Tola Rate Drops in Local Markets

ISLAMABAD (Web Desk) – The downward trend in gold prices continued on Tuesday, with both global and local markets witnessing a fourth consecutive day of decline.
According to market reports, reduced demand for safe-haven assets amid shifting geopolitical conditions, including easing concerns over US-Iran tensions, has contributed to the decline. Increased selling pressure in international markets has also played a role.
In the global bullion market, the price of gold fell by $21 per ounce, reaching $4,555. Following this trend, local sarafa markets also recorded a significant drop.
In Pakistan, the price of gold per tola decreased by Rs 2,100, settling at Rs 477,862. Similarly, the price of 10 grams of gold dropped by Rs 1,801 to Rs 409,689.
Silver prices also declined in both international and local markets. Globally, silver fell by 65 cents per ounce to $73.65. In local markets, the price of silver per tola decreased by Rs 65 to Rs 7,849, while the rate for 10 grams dropped by Rs 55 to Rs 6,729.
Market analysts say that recent fluctuations follow record highs, with selling pressure increasing due to a stronger US dollar and rising oil prices, both of which have impacted gold’s appeal in the short term.
Despite the recent decline, some analysts believe gold may continue to hold its position as a safe-haven asset in the long term.