Gold prices have seen a decline in both global and local markets, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
In the international bullion market, the price of gold per ounce dropped by $8, bringing the new global price to $2614 per ounce.
Meanwhile, in local markets on Tuesday, the price of 24-carat gold per tola decreased by Rs 800, settling at Rs 272,600. The price of gold per 10 grams also fell by Rs 685, reaching Rs 233,711.
Despite the drop in gold prices, the price of silver remained stable. The price of silver per tola stayed at Rs 3,350, while the price of silver per 10 grams remained unchanged at Rs 2,872.08.
Meanwhile, the Pakistan Stock Exchange (PSX) experienced a significant decline on Tuesday, with the benchmark KSE-100 Index dropping by over 1,500 points, a day after its record gain of 4,411 points.
This sharp fall was driven by profit-taking activities.
The KSE-100 index lost 1,509 points to close at 112,414 points. Throughout the trading session, the market saw a high of 115,036.49 points and a low of 112,294.42 points.
The trading volume stood at 352,683,905 shares, indicating a moderate level of market participation.