The gold price in Pakistan fell sharply on Saturday, with the price of one tola dropping Rs15,100 to Rs467,936. The decline followed a significant fall in international gold prices.
According to rates released by the All-Pakistan Gems and Jewellers Sarafa Association, 10-gram gold was priced at Rs401,179 after declining by Rs12,946 during the day.
The latest movement marked a reversal from Friday, when gold price in Pakistan remained unchanged in both the local and international markets. Saturday’s decline reflected the weaker trend in global bullion prices.
In the international market, gold fell by $151 per ounce to $4,454. The quoted international rate included a premium of $20, according to the reported market figures.
The sharp movement in global gold prices was reflected in Pakistan’s local market. As international bullion rates influence domestic pricing, the decline also pushed the local value of gold lower.
Silver prices also recorded a decline on Saturday. The price of silver fell by Rs397 per tola, reaching Rs7,112 in the local market, according to the rates shared by the jewellers’ association.
The latest gold price in Pakistan provides a notable change for consumers, investors and jewellers following the recent stability. Market participants will continue to monitor international bullion prices for further movements in local rates.
