According to the combined rates of All Pakistan Gems and Jewelers Exchange Association (APGJSA), gold prices have seen a decline in both global and local markets.
In the international bullion market, the price of gold fell by $8 per ounce to the new global price of $2,614 per ounce.
Meanwhile, the price of 24 carat gold fell by Rs 800 to close at Rs 272,600 per tola in local markets on Tuesday. The price of gold per 10 grams also decreased by Rs 685 to Rs 233,711.
Despite the drop in gold prices, the price of silver remained stable. Silver price per tola remained at Rs 3,350 while silver price per 10 grams remained at Rs 2,872.08.
Meanwhile, the Pakistan Stock Exchange (PSX) witnessed a significant decline on Tuesday, with the benchmark KSE-100 index down over 1,500 points, a day after its record high of 4,411 points.
This sharp decline was due to profit-taking activities.
The KSE 100 index closed down 1,509 points 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.
Trading volume stood at 352,683,905 shares, indicating a moderate level of market participation.