International gold prices fell by $56 per ounce to reach $4,017, extending a sharp downward trend that has persisted over the past two trading sessions.
The decline reflects sustained selling pressure in global benchmarks, which is being mirrored in local markets across emerging economies.
Traders are monitoring whether the current momentum will lead to a deeper correction or if support levels will hold near the $4,000 mark.
In Pakistan, the local price of gold dropped by Rs5,600 per tola on Tuesday, following a similar decline of Rs5,200 per tola the previous day.
The local market movement is tracking losses in international benchmarks, indicating that the sell-off is driven by global macro factors rather than isolated regional demand shifts.
The continued slide in gold prices suggests that safe-haven demand is weakening or that rising real yields are exerting pressure on non-yielding assets.
Traders are monitoring whether the current momentum will lead to a deeper correction or if support levels will hold near the $4,000 mark.