Gold Price in Pakistan Drops for Fifth Consecutive Day, 24K Gold Falls by Rs4,700 Per Tola

Gold price in Pakistan continued its downward trend on Wednesday, marking the fifth consecutive day of decline as both local and international gold markets recorded significant losses. The latest gold price in Pakistan was announced by the All Pakistan Sarafa Gems and Jewellers Association.

According to the latest update, the price of 24-karat gold per tola dropped by Rs4,700, bringing the new rate to Rs430,236 per tola. Meanwhile, the price of 10 grams of 24K gold fell by Rs4,029 to Rs368,858.

The decline in the local market followed a sharp fall in global bullion prices. In the international market, gold price decreased by $47 per ounce, with the new rate settling at $4,078 per ounce.

Silver prices also witnessed a notable decline. The price of silver per tola fell by Rs138, taking the new rate to Rs6,421 per tola.

Gold prices in Pakistan are largely influenced by fluctuations in the international bullion market and the rupee-dollar exchange rate. Traders and investors continue to closely monitor global economic developments, as they play a key role in determining daily gold rates in Pakistan.

The latest decline offers some relief to buyers, while investors remain watchful of future market movements amid changing global economic conditions.