Gold Price in Pakistan Drops by Rs. 4,600 Per Tola as International Rates Decline

Gold Price in Pakistan recorded a sharp decline on Friday following a significant fall in international bullion markets. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola decreased by Rs. 4,600, bringing the new rate to Rs. 427,436.

The latest gold rate in Pakistan also showed a decline for smaller quantities. The price of 10 grams of 24-karat gold fell by Rs. 3,944 to Rs. 366,457, offering some relief to buyers after recent record-high prices.

The drop in local prices came after a decline in the international gold price. In the global bullion market, gold fell by $46 per ounce, with the new rate settling at $4,050 per ounce. The decrease in international prices directly impacted the today gold rate in Pakistan, as local bullion prices are linked to global market trends and currency movements.

Meanwhile, silver prices in Pakistan also moved lower. The price of silver per tola declined by Rs. 61, reaching Rs. 6,309.

The revised gold and silver rates in Pakistan were announced by the All Pakistan Sarafa Gems and Jewellers Association. Market analysts say gold prices may continue to fluctuate in the coming days depending on global economic developments, investor sentiment, the US dollar, and international demand for the precious metal.