Gold prices in Pakistan dropped on Wednesday, following a decline in the global market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs1,400. With the latest dip, gold now stands at Rs355,200 per tola in the local market.
Similarly, the price of 10-gram gold declined by Rs1,201, settling at Rs304,526. This marks the second consecutive day of losses for the precious metal. On Tuesday, gold had dropped by Rs1,100 per tola, showing a continued downward trend.
The international gold rate also slipped, contributing to the local decrease. Global gold stood at $3,325 per ounce, down by $14, including a $20 premium, as shared by APGJSA. The fall reflects shifting investor sentiment and market adjustments.
Silver prices also followed the downward trend in Pakistan. Silver per tola dropped by Rs96, bringing the new rate to Rs3,935. The 10-gram silver rate saw a corresponding drop but was not detailed in the report.
With both gold and silver losing value, market watchers remain cautious. Fluctuations in global trends, dollar strength, and interest rate outlooks continue to drive local bullion prices.