Pakistan’s bullion market saw gold rate decline slightly on Thursday, with the 24-karat gold rate falling Rs600 to Rs462,336 per tola as the precious metal continued its gradual retreat from recent highs.
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The decline was more measured than in previous sessions, suggesting that the market may be entering a consolidation phase. The price of 24-karat gold also decreased by Rs515 to Rs396,378 per 10 grams, while 22-karat gold fell by Rs472 to Rs363,359.
In the international market, gold prices also edged lower. The international gold price declined by $6 to $4,398 per ounce, providing a mildly negative backdrop for local bullion prices.
Gold has now retreated by around Rs21,000 per tola from its late-August peak above Rs483,000. Despite the correction, the metal remains around Rs41,000 above its July low of approximately Rs421,000.
The latest movement indicates that selling pressure has eased, although traders continue to monitor international prices and currency movements for further direction.
Earlier to this, Pakistan bullion market saw gold prices extend their losing streak, though the decline was more measured than in previous sessions.
The today gold rate in Pakistan for 24-karat gold fell by a modest Rs. 1,000, closing at Rs. 462,136.
This marks the fourth consecutive session of losses for the yellow metal, as the market continues its gradual consolidation phase.
In 10 grams, 24-karat gold decreased by Rs. 857 to Rs. 396,207, while 22-karat gold fell by Rs. 786 to Rs. 363,202. The relatively modest declines across all variants indicate a more balanced market.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for 999 purity (24K).
