Gold prices in Pakistan extended their downturn on Tuesday in line with a decline in the international rate. In the local market, gold price per tola fell to Rs240,900 after a single-day decrease of Rs7,800.

The 10-gram gold was sold at Rs206,533 after a decline of Rs6,687, according to rates shared by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Monday, gold price per tola saw a decline of Rs3,500.

The international rate of gold further eased on Tuesday, as per APGJSA. The rate was set at $2,309 per ounce ((with a premium of $20) after a decline of $72 during the day.

Meanwhile, silver rates decreased Rs100 to settle at Rs2,780 per tola.

In just two session, gold has plunged Rs11,300 per tola in the local market, taking a cue from an over $100 per ounce decline in the international rate.

On Saturday, gold price per tola had hit an all-time high of Rs252,200 in Pakistan.

The safe-haven asset saw a record surge due to geo-political tensions in the Middle East and central banks adding to their gold reserves.

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