The gold price in Pakistan witnessed a significant decline on Wednesday, with the price of one tola falling by Rs8,600 amid a sharp drop in international bullion markets. The latest decrease comes after gold had recorded gains in the previous trading session.
According to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the gold price in Pakistan settled at Rs467,762 per tola after the day’s decline. The fall reflects changing trends in global precious metal markets and investor sentiment.
Similarly, the price of 10 grams of gold decreased by Rs7,373, bringing the new rate to Rs401,030. Market analysts noted that fluctuations in international gold prices continue to have a direct impact on local bullion rates across Pakistan.
The decline followed a strong performance on Tuesday when the gold price in Pakistan increased by Rs4,600 per tola and reached Rs476,362. The latest correction erased those gains and pushed prices lower once again.
In the international market, gold prices dropped by $86 per ounce, with the global rate settling at $4,454 per ounce. The reported price included a premium of $20 per ounce, according to market data released on Wednesday.
Experts believe that changes in global economic expectations, currency movements, and investor demand remain key factors influencing gold prices. Any shift in international markets is often reflected quickly in local trading activity.
Meanwhile, silver prices also moved lower during the session. The price of silver fell by Rs259 per tola, bringing it down to Rs7,894. Traders will continue monitoring international commodity markets for further movements in the gold price in Pakistan and other precious metals.
