KARACHI — Gold prices in Pakistan declined on Saturday following a brief surge in the previous trading session, reflecting a downward trend in the international bullion market. The change affects investors, jewellers, and consumers who closely monitor precious metal rates for savings and purchasing decisions.
According to market data, the international price of gold fell by $7 per ounce, settling at $4,746. Following this global movement, local bullion markets across Pakistan also recorded a decrease in gold rates.
Local market rates
In the domestic market, the price of 24-karat gold per tola dropped by Rs. 700 to Rs. 496,962. Similarly, the rate for 10 grams of 24-karat gold declined by Rs. 600, reaching Rs. 426,064. These prices are typically determined by the All Pakistan Sarafa Gems and Jewellers Association, which aligns local rates with international market trends and currency fluctuations.
Also Read: Gold prices jump Rs 3,400 per tola in Pakistan after previous day’s sharp drop
Silver prices move upward
In contrast to gold, silver prices registered an increase in the local market. The price of silver per tola rose by Rs. 50 to Rs. 8,064, while the rate for 10 grams increased by Rs. 43 to Rs. 6,913.
Market context
Gold prices had increased during the previous trading session before reversing their trend. Fluctuations in precious metal prices are commonly influenced by changes in the international market, exchange rate movements, and investor sentiment.
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