The local bullion market witnessed a significant decline, where the value of gold fell sharply on Tuesday following a downturn in the global market.
The price of 24-karat gold per tola saw a major decrease of Rs 4,000, bringing the new price to Rs 450,862. Similarly, the price of 24-karat 10-gram gold decreased by Rs 3,429 to Rs 386,541.
Investors in 22-karat gold also saw a decrease in prices, with the 10-gram rate closing at Rs 354,342 after a reduction of Rs 3,143.
This local downturn was in line with the negative trend in global markets, where the international price of gold fell by $40 to $4,285 per ounce.
In contrast to the volatility in the gold market, silver prices remained completely stable. The price of 24-karat one-tola silver remained unchanged at Rs 6,532.
The price of 24-karat 10-gram silver also saw no change and stood at Rs 5,600. Globally, the price of silver also remained stable, recorded at $62.60 per ounce.