Gold Prices in Pakistan Drop Sharply Following International Market Decline
Gold prices in Pakistan recorded a significant decline on Monday after a sudden drop in international rates. In the local market, the price of gold per tola fell by Rs. 3,200 compared to the previous trading session.
According to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola decreased to Rs. 523,762. Similarly, the price of 10 grams of gold dropped by Rs. 2,743 and was sold at Rs. 449,041.
The decline in gold prices reflects the downward trend seen in global markets. International gold prices fell by $32 per ounce and settled at $5,010, including a premium of $20. Analysts say the drop in global rates directly influenced the local bullion market, leading to lower prices across Pakistan.
Silver prices also followed a downward trend in the domestic market. The price of silver per tola fell by Rs. 55 and settled at Rs. 8,164. The decrease in silver rates further highlights the impact of international market movements on precious metals in Pakistan.
Market experts note that fluctuations in international gold prices, currency exchange rates, and investor sentiment continue to play a major role in determining local prices. Traders expect prices to remain volatile in the coming days as global economic conditions and interest rate expectations evolve.
The recent decline has attracted attention from buyers who were waiting for a correction in prices, while investors remain cautious due to ongoing uncertainty in international markets.
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