The gold price in Pakistan fell by Rs3,500 per tola on Thursday, bringing the price down to Rs483,036. The decline followed a drop in international gold prices during the session.
According to rates released by the All-Pakistan Gems and Jewellers Sarafa Association, the price of 10-gram gold also decreased. It fell by Rs3,001 to reach Rs414,125.
The latest decline came after gold prices also dropped on Wednesday. The price per tola had fallen by Rs600 during the previous session, reaching Rs486,536.
The gold price in Pakistan moved lower as the international market also recorded a decline. Global gold prices fell by $35 to reach $4,605 per ounce, including a premium of $20.
The movement in international gold prices continues to influence local bullion rates. Changes in global prices, along with currency movements and domestic market conditions, can affect the price of gold in Pakistan.
Meanwhile, silver prices moved in the opposite direction on Thursday. The price of silver increased by Rs50 per tola, reaching Rs7,329 in the local market.
The latest movement provides relief for gold buyers after prices remained at elevated levels. The gold price in Pakistan will continue to be closely watched as international bullion rates and local market conditions influence daily prices.
