The Gold Price in Pakistan witnessed a sharp decline on Friday, bringing relief to buyers after weeks of high rates. According to the latest market data, the price of gold per tola dropped by Rs14,900, reflecting a significant downward trend in both local and international bullion markets.
Following the latest adjustment, gold was traded at Rs438,036 per tola in Pakistan. The decline came after international gold prices weakened considerably, prompting local traders to revise rates downward. Market analysts noted that global economic developments played a major role in the latest movement.
Similarly, the price of 10 grams of gold decreased by Rs13,410 and settled at Rs374,205. The reduction follows the trend observed in international markets, where investors showed a cautious approach amid changing economic expectations and currency movements.
Data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) showed that local gold rates closely tracked global price changes. The association regularly updates bullion prices based on fluctuations in the international market and exchange rate movements.
In the global market, the price of gold fell by $149 per ounce, reaching $4,156 per ounce, including a premium of $20. This notable drop influenced regional markets, including Pakistan, where gold prices often respond quickly to international developments.
The latest decline comes a day after gold prices had already recorded a decrease. On Thursday, the Gold Price in Pakistan fell by Rs2,300 per tola, taking the rate to Rs452,963 before Friday’s much larger correction. Traders described the latest drop as one of the most significant daily declines in recent weeks.
Experts believe that future movements in the Gold Price in Pakistan will depend largely on international economic conditions, inflation trends, and investor sentiment. While the recent decline may encourage buying activity, market participants remain watchful for further changes in global bullion prices.
