Pakistan, May 26 -- Gold prices in Pakistan fell sharply on Tuesday following losses in the international bullion market. The price of gold per tola declined by Rs2,400 to reach Rs475,362 in local markets. The decline affected investors, jewellers, and consumers tracking daily precious metal rates.

According to the All-Pakistan Gems and Jewellers Sarafa Association, 10-gram gold prices also dropped significantly. The rate for 10 grams of gold decreased by Rs2,057 to settle at Rs407,546. Local bullion traders linked the decline to falling international gold prices and weaker global demand.

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The international price of gold declined by $24 during the trading session. Global gold rates reach...