Gold prices in Pakistan recorded a sharp decline as rates fell by Rs4,700 per tola, bringing the price of gold to Rs455,562, according to the latest figures released by the All Pakistan Sarafa Gems and Jewellers Association.
The downward trend was also seen in the 10-gram category, where gold prices dropped by Rs4,030 to settle at Rs390,570. The sharp fall reflected strong selling pressure in the local bullion market.
Silver prices followed the same direction, falling by Rs106 per tola. After the decline, silver closed at Rs7,756 per tola in the domestic market.
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The impact of the price drop was visible across all gold purity levels. Rates for 18-karat gold declined notably, with prices recorded at Rs349,500 per tola, Rs29,964.75 per gram, and Rs299,647.50 per 10 grams. Per-ounce prices for 18K gold also slipped to Rs849,285. Similar declines were observed in 21-karat and 22-karat gold, highlighting the scale of the correction.
International market weakness played a major role in dragging local prices lower. In the global bullion market, gold prices fell by 47 dollars per ounce to trade at 4,332 dollars, including a 20-dollar premium. The global decline added pressure on domestic rates, leading to heavier losses for local buyers and investors.
Market observers said gold prices remain sensitive to international movements and currency trends, and further volatility may be seen in the coming days depending on global economic signals.
