Gold prices fall, rupee devalues

Gold prices in Pakistan experienced a consecutive second day of decline on Tuesday, mirroring a similar trend in international markets. The price per tola dropped by Rs1,400, settling at Rs277,900 in the local market. Similarly, the price of 10-gram gold fell by Rs1,201, closing at Rs238,254, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Monday, the price per tola had already decreased by Rs1,500, ending at Rs279,300. Internationally, gold was priced at $2,661 per ounce on Tuesday, with a $20 premium, marking a $14 drop. Adnan Agar, Director of Interactive Commodities, remarked, "There hasn't been much movement in the gold market today." The price fluctuated between a high of $2,675 and a low of $2,660, amounting to a $15 range, and was last seen at $2,668. The lack of volatility stems from market anticipation of the US monthly inflation data release today (Wednesday).