Gold prices in Pakistan dropped sharply on Thursday, falling Rs5,200 per tola. The decline followed a decrease in international gold rates, signaling a broader market trend. The change affects investors, jewellers, and consumers across the country.
In the local market, the price of gold per tola settled at Rs493,762 after the decline. Similarly, 10-gram gold was sold at Rs423,321 following a drop of Rs4,458. Rates were shared by the All-Pakistan Gems and Jewellers Sarafa Association. The downward trend reflects shifting global and domestic market conditions.
Read more: Gold prices decline by Rs 1,200 per tola
A day earlier, gold prices had also recorded a decline in the local market. On Wednesday, the per tola rate stood at Rs498,962 after falling Rs1,200. This indicates a continuing downward trajectory over consecutive sessions. Market participants are closely monitoring further price movements.
Meanwhile, the international gold rate decreased by $52 per ounce. It reached $4,714 per ounce, including a premium of $20. Global price movements often influence domestic rates in Pakistan. Therefore, local markets tend to adjust quickly to international trends.
Read more: Gold drops Rs1,200 per tola in Pakistan
In addition, silver prices also recorded a notable decline in the local market. The price of silver dropped by Rs225 per tola to settle at Rs8,099. Analysts say precious metal prices may remain volatile in the near term. Investors are advised to track global developments for future direction.