Gold prices in Pakistan continued their downward trend on Wednesday, recording a fourth consecutive daily decline as international bullion markets remained under pressure. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local gold market followed global price movements, leading to another significant reduction in rates.
The international price of gold fell by $47 per ounce, bringing the global bullion rate down to $4,078 per ounce. The decline reflected weaker demand and changing investor sentiment in international commodity markets, which directly influenced domestic gold prices.
In the local market, the price of 24-karat gold per tola dropped by Rs4,700, settling at Rs430,236. Meanwhile, the price of 10 grams of gold declined by Rs4,029, reaching Rs368,858, according to the APGJSA’s latest figures.
Silver prices also recorded losses during the trading session. The price of silver per tola decreased by Rs138 to Rs6,421, while 10 grams of silver fell by Rs119, closing at Rs5,504.
The latest decline follows another drop on Tuesday, when gold prices fell by Rs2,500 per tola in Pakistan after international bullion prices lost $25 per ounce. Market analysts say the continuous decline reflects global uncertainty and cautious investor activity.
Gold had already weakened earlier in the week. On Monday, prices dropped by Rs2,400 per tola, while Saturday’s trading session ended with a decline of Rs1,100 per tola, extending the overall bearish trend in both local and international markets.
Market experts believe future gold prices will depend on international economic developments, inflation expectations, and investor demand for safe-haven assets. Traders are closely monitoring global financial markets for signals that could determine the next direction of bullion prices.
