Gold price in Pakistan witnessed a sharp decline on Thursday, falling by Rs5,200 per tola in line with a drop in international rates. The latest decrease reflects ongoing volatility in global bullion markets.
According to market data, the gold price in Pakistan settled at Rs493,762 per tola after the significant drop during the day. This marks one of the notable single-day declines in recent trading sessions.
Similarly, the price of 10 grams of gold also saw a decrease of Rs4,458, bringing it down to Rs423,321. The updated rates were shared by the All-Pakistan Gems and Jewellers Sarafa Association, which regularly monitors local bullion prices.
The downward trend follows a previous decline on Wednesday, when gold prices dropped by Rs1,200 per tola, closing at Rs498,962. The consistent decrease highlights the pressure on gold markets both locally and internationally.
Globally, gold prices also recorded a decline, with the international rate falling by $52 per ounce. The price reached $4,714 per ounce, including a premium, indicating weaker demand or shifting investor sentiment.
Meanwhile, silver prices in Pakistan also followed the same trend. The price of silver dropped by Rs225 per tola, settling at Rs8,099, reflecting a broader decline in precious metal markets.
Experts suggest that fluctuations in the gold price in Pakistan are closely tied to international market movements, currency exchange rates, and economic uncertainty. Investors are advised to monitor trends closely before making buying or selling decisions.
