Gold prices in Pakistan dropped by Rs1,200 per tola on Wednesday, tracking a global decline. The fall reflects weakening international rates and shifting market sentiment. The change impacts investors, jewellers, and consumers across the country.
In the local market, gold price per tola settled at Rs498,962 after the decline during the day. Similarly, 10-gram gold was sold at Rs427,779, down by Rs1,029. The rates were shared by the All-Pakistan Gems and Jewellers Sarafa Association.
Read more: Gold prices remain steady in Pakistan
A day earlier, gold prices also recorded a drop, showing a continuing downward trend. On Tuesday, the per tola rate stood at Rs500,162 after falling by Rs1,000. This indicates sustained pressure on the domestic bullion market.
Internationally, gold prices declined by $12 per ounce to reach $4,766, including a $20 premium. The global decrease influenced local pricing, as Pakistan’s gold rates closely follow international trends. Consequently, local markets reacted quickly to the shift.
Read more: Gold prices drop sharply across Pakistan
Meanwhile, silver prices also moved downward in the domestic market. The price of silver dropped by Rs34 per tola to settle at Rs8,324. Analysts note that both metals may remain volatile amid global economic uncertainty.