The gold price in Pakistan witnessed a sharp decline on Tuesday, falling by more than Rs10,000 per tola following a volatile trend in the international bullion market. The sudden drop came just a day after a significant increase in prices.
According to the All Pakistan Sarafa Gems and Jewellers Association, the gold price in Pakistan for 24-karat per tola decreased by Rs10,400, bringing the new rate down to Rs432,236. The fluctuation reflects ongoing instability in global commodity markets.
The gold price in Pakistan for 10 grams of 24-karat gold also fell by Rs9,360, settling at Rs368,985. Meanwhile, 22-karat gold recorded a decline of Rs8,508, with the new price standing at Rs338,575.
The downward trend was closely linked to international market movements, where gold prices dropped significantly. In the global bullion market, gold declined by $104 per ounce, reaching $4,098 amid broader financial uncertainty.
Market analysts say the gold price in Pakistan is highly influenced by global economic signals, including currency fluctuations, inflation expectations, and investor sentiment in international markets.
Silver prices also followed the same downward pattern. In Pakistan, 24-karat silver dropped by Rs487 per tola, while 10-gram silver prices also saw a notable decrease, reflecting weaker demand in the commodity market.
Experts believe continued volatility in global markets may keep precious metal prices unstable in the coming days, with both gold and silver likely to experience further fluctuations.
