Gold prices declined on Tuesday, tracking weakness in the international bullion market and triggering a sharp drop in domestic rates across Pakistan.
In the global market, spot gold slipped 0.6% to $4,277.20 per ounce by 11:02 GMT, after hovering near $4,285 earlier in the session. Despite the pullback, gold remains significantly higher year to date, up around 64% so far in 2025, reflecting sustained investor interest amid economic uncertainty.
The downturn quickly translated into local markets. According to data from the All-Pakistan Gems and Jewellers Sarafa Association, the price of 24-carat gold per tola fell by Rs4,000 to Rs450,862, while the price of 10 grams declined by Rs3,429 to settle at Rs386,541.
Read: Gold Prices Jump Again as Global and Pakistan Markets Rally
Silver prices also softened internationally, with spot silver dropping 1.5% to $62.98 per ounce after touching a record high of $64.65 late last week. In contrast, domestic silver rates remained unchanged, with per tola silver holding at Rs6,532 and 10 grams steady at Rs5,600.
The latest decline follows a volatile stretch for precious metals. On Monday, gold per tola had surged to Rs454,862, gaining Rs2,600 in a single session, while 10-gram gold rose to Rs389,970. Earlier on Saturday, gold closed at Rs452,262, down Rs2,000, even as silver reached an all-time high in the local market.
Market analysts note that gold traded within a narrow international range on Monday, fluctuating between $4,300 and $4,350, before easing lower. Investors are now closely watching key U.S. economic releases scheduled for later this week, including inflation and employment data, along with the Bank of Japan’s upcoming monetary policy decision. These developments are expected to play a decisive role in shaping short-term movements in gold and broader financial markets.