Gold prices in Pakistan fell sharply on Thursday, dropping Rs600 per tola amid international market declines. The price per tola reached Rs466,162, while 10-gram gold sold at Rs399,658 after a Rs515 fall. Experts said the local market followed global trends, with international gold rates losing $6 per ounce.
The decline continued a trend from Wednesday, when gold per tola had already fallen Rs1,200. Analysts attributed the drop to reduced global demand and market uncertainty. Jewelers reported lower customer purchases, reflecting cautious sentiment among investors. Meanwhile, international gold reached $4,438 per ounce with a $20 premium, indicating a slight global price correction.
Read more: Gold prices fall by Rs 1,200 per tola
Silver prices also declined alongside gold, falling Rs236 to reach Rs8,125 per tola. Market watchers said both metals are under pressure from fluctuating currency values and global economic indicators.
Traders advised buyers and sellers to monitor further international movements before making large transactions. The All-Pakistan Gems and Jewellers Sarafa Association shared the official rates and updates for local investors.
Read more: Gold prices surge by Rs 3,200 per tola
The local gold market remained active despite falling prices, with daily trade volumes continuing steadily. Jewelers said demand for smaller quantities, such as 10-gram and 5-gram gold pieces, remained consistent. They emphasized that investors are watching global news closely, especially US economic indicators and international trade trends, to predict future movements.