Pakistan’s bullion market saw gold prices decline on Thursday, with the yellow metal giving back most of the previous session’s gains. The gold rate in Pakistan for 24-karat gold fell by Rs3,800 to close at Rs453,436 per tola.
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The latest decline reversed much of Wednesday’s strong rebound, highlighting continued volatility in the local gold market.
For 10 grams, the price of 24-karat gold decreased by Rs3,257 to Rs388,749, while 22-karat gold fell by Rs2,987 to Rs356,364.
The international gold price declined by $38 per ounce to $4,309, giving back part of Wednesday’s gains. The weaker global price provided downward pressure on local gold rates.
Since the late-August peak of more than Rs483,000 per tola, gold has now fallen by approximately Rs30,000 per tola.
A day earlier, Pakistan’s bullion market staged a notable recovery, with gold prices bouncing back sharply after last week’s significant sell-off. The gold rate in Pakistan for 24-karat gold rose by Rs7,900 to close at Rs457,236 per tola.
The strong rebound marked the largest single-day gain in more than a week, indicating renewed buying interest after the recent correction. The decline in gold prices appears to have encouraged buyers to return to the market.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for 999-purity (24-karat) gold.
