Gold Price Falls by Rs10,800 per Tola in Pakistan

Gold Rate Sees Another Major Decline

Gold prices in Pakistan fell by Rs10,800 per tola on Saturday, October 31, bringing the reported price of 24-karat gold to Rs409,736.

The latest decline follows a Rs5,100 reduction recorded on Friday, when the price stood at Rs420,536 per tola. This means gold has lost Rs15,900 per tola over the two days, based on the reported rates.

International Market Weakness Affects Local Prices

The decline in Pakistan's gold market comes amid continued pressure on international bullion prices.

Global gold prices have fallen below the $4,000-per-ounce level as stronger economic data from the United States and expectations of higher interest rates have affected investor demand for the precious metal.

Gold does not generate interest income, making it less attractive when interest rates are expected to rise.

Buyers and Investors Monitor Market Movement

Local gold prices are influenced by international bullion rates, the rupee-dollar exchange rate and domestic market conditions.

The latest decline may affect jewellery buyers and investors, although market rates can change during trading. Consumers are advised to confirm the prevailing rate with local jewellers before making purchases.