Gold Prices Continue to Fall in Pakistan as 24-Karat Gold Drops Rs2,400 Per Tola

Gold prices in Pakistan continued their downward trend for the third consecutive day, offering relief to buyers after a sharp surge earlier this week. The latest decline follows a correction in both the local and international bullion markets.

According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola dropped by Rs2,400, bringing the new rate to Rs437,436.

Similarly, the price of 10 grams of 24-karat gold declined by Rs2,058, settling at Rs375,030 across the country.

The decline in the gold price in Pakistan comes in line with weakness in the global bullion market. In the international market, gold prices fell by $24 per ounce, with the precious metal now trading at $4,150 per ounce.

Meanwhile, silver prices in Pakistan also recorded a decline. The price of silver per tola decreased by Rs37, bringing the latest rate to Rs6,679.

Market experts say fluctuations in international gold prices, currency movements, and investor sentiment continue to influence the gold rate in Pakistan. The latest correction may encourage buyers who had delayed purchases during the recent record-high price rally.

Traders will continue to monitor developments in global financial markets, as any changes in international bullion prices could further impact gold prices today in Pakistan over the coming days.