Pakistan bullion market saw gold prices extend their losing streak on Tuesday, though the decline was more measured than in previous sessions.
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The today gold rate in Pakistan for 24-karat gold fell by a modest Rs. 1,000, closing at Rs. 462,136.
This marks the fourth consecutive session of losses for the yellow metal, as the market continues its gradual consolidation phase.
In 10 grams, 24-karat gold decreased by Rs. 857 to Rs. 396,207, while 22-karat gold fell by Rs. 786 to Rs. 363,202. The relatively modest declines across all variants indicate a more balanced market.
The slight dip was influenced by marginal weakness in global markets. The international gold price per ounce edged down by $10 to $4,396.
Since the late August peak above Rs. 483,000, gold has now retreated approximately Rs. 21,000 per tola. However, the metal remains well above the July lows near Rs. 421,000, with gains of approximately Rs. 41,000 still intact.
A day earlier, bullion market saw gold prices extend their decline on Monday, September 07, with the yellow metal continuing its gradual slide from recent highs. The today gold rate in Karachi for 24-karat gold fell by Rs. 2,400, closing at Rs. 463,136.
This marks the third consecutive session of losses for gold, as the market continues to consolidate after the explosive gains recorded in late August. The persistent selling pressure suggests investors are taking a cautious approach.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for purity 999 (24K).
