Gold prices in Pakistan continued their downward trend for the second consecutive day on Tuesday, with the domestic market witnessing a sharp decline of nearly Rs. 6,000 per tola. The fall comes as international gold prices also weakened, reflecting changing global market sentiment and easing demand for the precious metal.

According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola dropped by Rs. 5,600, bringing the new rate down to Rs. 424,136.

The price of 10 grams of 24-karat gold also recorded a significant decline, falling by Rs. 4,801 to settle at Rs. 363,628. The decrease follows a broader correction in international bullion markets, which continues to influence local gold prices.

Global gold rates came under pressure as market conditions shifted and investors reassessed demand for safe-haven assets. Reports also indicated that jewellers in Gulf countries have become increasingly cautious due to uncertainty linked to regional conflict, contributing to weaker demand in some markets.

Pakistan’s gold market closely follows international price movements while also being affected by fluctuations in the exchange rate. As a result, changes in global bullion prices often translate into noticeable gains or losses for local buyers and investors.

The latest decline could provide some relief to consumers planning to purchase gold jewellery, particularly during the wedding season. However, traders note that gold prices remain historically elevated despite the recent correction, and further movements will depend on international economic developments, geopolitical conditions, and currency trends.

Market analysts believe investors will continue monitoring global inflation data, interest rate expectations, and geopolitical events, all of which play a key role in determining the direction of gold prices worldwide.

While the current drop marks one of the more significant single-day declines in recent weeks, experts caution that the gold market remains volatile. Any major shift in global financial markets or regional tensions could quickly influence international bullion prices and, in turn, Pakistan’s domestic gold market.