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Gold prices in Pakistan witnessed a consecutive decline, with Wednesday marking the second day of reduction, settling at Rs. 239,200 per tola.
Data released by the Karachi Sarafa Association revealed a decrease of Rs. 800 per tola in the price of gold (24 carats), reaching Rs. 239,200, while 10 grams witnessed a decline of Rs. 686, landing at Rs. 205,075.
Read Also: Pakistan’s Economic Growth: Finance Minister Unveils Tax and Pension Reform Plans
On Tuesday, gold prices experienced a drop of Rs. 500 per tola, although earlier, there was a significant increase of Rs. 2,500 per tola.
Towards the end of the previous month, gold prices surged, surpassing the Rs. 252,000 mark to hit an all-time high. However, as tensions in the Middle East subsided, gold prices followed the global trend and retreated. Over the past two weeks, gold prices have plummeted by Rs. 14,200 per tola.
In the international market, spot gold saw a decrease of 0.2 percent, settling at $2,308.20 per ounce by 0934 GMT, while US gold futures also dropped by 0.3 percent to $2,316.30 per ounce.