KARACHI — Gold prices in Pakistan extended their decline for a fourth consecutive day, following a drop in global bullion rates that continues to influence local markets. A day earlier, prices had already fallen by Rs1,200 per tola, and the downward trend continued in the latest session as international rates weakened further.
Gold prices drop Rs1,200 per tola in Pakistan amid global decline
The continued decline reflects movements in the global market, with domestic prices adjusting accordingly and affecting traders, investors, and buyers.
Global market trend
In the international market, gold prices decreased by $52 per ounce, settling at $4,714. Analysts say fluctuations in global bullion markets are driving the ongoing downward trend.
Impact on local prices
In Pakistan, the price of 24-karat gold per tola dropped by Rs5,200 to Rs493,762. The price of 10 grams of gold also declined by Rs4,458, reaching Rs423,321.
Silver prices followed a similar pattern. The price per tola of silver fell by Rs225 to Rs8,099, while 10 grams declined by Rs193 to Rs6,943.
Market outlook
Traders say local gold prices remain closely linked to global trends, and continued volatility in international markets may influence price direction in the coming days.
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