Gold Rate in Pakistan today saw a significant decline as domestic and international markets moved downwards.
According to the most recent market update, 24K gold per tola saw its price decrease by Rs. 3,300 and now sits at Rs. 439,762. Meanwhile, 10 grams of 24K gold decreased in price by Rs. 2,829 to be priced at Rs. 377,025.
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22K gold rates also followed suit with this trend, recording 10 grams at Rs. 345,618, representing a decrease of Rs. 2,594.
On a global scale, international gold prices dropped $33 to settle at $4174 – contributing further downward pressure on local prices due to interbank exchange rates.
Pakistan silver prices also saw a decrease. One tola of 24K fell by Rs. 140 to 5,522, and 10 grams now stand at Rs. 4,734.
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Across borders, international silver also experienced some price decrease, declining slightly by $1.4, reaching $52.60.
Market analysts attribute the decline to fluctuations in international bullion trends and currency value adjustments.
Earlier this week, domestic bullion markets displayed a mixed performance, with gold rates falling significantly in Pakistan for 24-karat variant gold prices while silver prices showed marked gains, mirroring mixed movements on international markets.
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According to data released by All Pakistan Sarafa Gems and Jewellers Association, 24 karat gold per tola has seen its price decline by Rs 1,000; currently standing at Rs 434,762.
Also, the 10 grams of 24-karat gold has seen its price fall by Rs 857 to settle at Rs 372,738; 22-karat gold used in jewelry has followed suit by decreasing by 786 rupees to come down to Rs 341,688 per 10 grams.
Pakistan’s local gold rate subsequently experienced a downward adjustment due to fluctuations in international markets; as such, gold dropped $10 to reach $4,124 per ounce.
