The gold price in Pakistan witnessed a notable decline on Wednesday, falling by Rs1,200 per tola in response to a drop in international rates. The decrease reflects ongoing fluctuations in the global bullion market.
According to market data, the gold price in Pakistan settled at Rs498,962 per tola after the latest reduction. This change comes amid shifting investor sentiment and external economic pressures.
Similarly, the price of 10 grams of gold also dropped, reaching Rs427,779 after a decrease of Rs1,029. Traders reported that the gold price in Pakistan continues to mirror trends in the international market.
Data shared by the All-Pakistan Gems and Jewellers Sarafa Association confirmed the revised rates. The association regularly updates gold prices based on global movements and currency exchange fluctuations.
On the previous day, the gold price in Pakistan had already decreased by Rs1,000 per tola, settling at Rs500,162. The continued downward trend indicates a cooling phase in local bullion markets.
Globally, gold prices fell by $12 per ounce, bringing the rate down to $4,766 with an added premium of $20. Analysts attribute the decline to shifting demand and macroeconomic factors affecting commodities worldwide.
Meanwhile, silver prices also followed the downward trend, dropping by Rs34 per tola to reach Rs8,324. Experts suggest that the gold price in Pakistan may remain volatile in the coming days depending on global market conditions.
