KARACHI – Gold prices in Pakistan’s domestic market experienced a notable decline on Tuesday, following a drop in international gold prices. The decrease in gold prices reflects a shift in market trends that impacted local rates.
According to data from the All Pakistan Gems and Jewellers Association, the price of gold per tola fell by Rs500, bringing it down to Rs250,500. Similarly, the cost of gold for 10 grams dropped by Rs425, settling at Rs214,763.
The decline in domestic gold prices corresponds with a reduction in the international gold market. Globally, the price of gold decreased by $11 per ounce, closing at $2,391. This drop in international gold prices has influenced the domestic market, leading to a decrease in local gold rates.
In contrast, silver prices in Pakistan remained stable. The price of silver per tola was reported at Rs2,920, while the cost for 10 grams was Rs2,503.42. This stability in silver prices contrasts with the fluctuations observed in gold prices.
Just a day prior, gold prices in Pakistan had seen an increase. The price of gold per tola surged by Rs1,000, reaching Rs251,000, and the 10-gram gold price rose by Rs857 to settle at Rs215,192. This recent volatility in gold prices highlights the sensitivity of the market to changes in international gold rates.
As the global and domestic gold markets continue to fluctuate, investors and consumers alike will be monitoring these trends closely. The recent changes in gold prices underscore the impact of international market movements on local commodity rates.
