Gold prices declined in Pakistan on Tuesday, following a downturn in international trading.
In local markets, the price of gold per tola eased to Rs. 444,162, reflecting a Rs. 2,700 decrease during the day. Meanwhile, 10-gram gold was priced at Rs. 380,797, down Rs. 2,315, according to data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The global market also saw a pullback, with gold falling $27 to $4,218 per ounce, including a $20 premium. Silver prices dropped as well, slipping Rs. 41 to Rs. 6,004 per tola in the local market.
Internationally, gold retreated after hitting a six-week high in the previous session. Analysts attribute the decline to rising US Treasury yields and profit-taking, as traders wait for new economic indicators to gauge the Federal Reserve’s next move.
By 0436 GMT, spot gold was down 0.4% at $4,216.13 per ounce, after reaching its highest level since October 21 on Monday. US gold futures for December delivery fell 0.7% to $4,246.60 per ounce, while benchmark 10-year US Treasury yields hovered near a two-week high, diminishing interest in non-yielding bullion.
