Gold rate in Pakistan declined sharply on Wednesday, with the yellow metal giving back its recent gains and resuming its downward trend amid continued weakness in international markets.
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The 24-karat gold rate fell by Rs. 3,100, closing at Rs. 434,436 per tola.
This decline erases the modest gains from earlier in the week, suggesting that the market remains under pressure and that the recent stabilization was temporary. The persistent bearish sentiment continues to weigh on prices.
In 10 grams, 24-karat gold decreased by Rs. 2,658 to Rs. 372,458, while 22-karat gold fell by Rs. 2,436 to Rs. 341,432. The broad-based declines across all variants indicate renewed selling pressure.
The drop was influenced by continued weakness in global markets. The international gold price fell by $31 to $4,119, extending its retreat from recent levels. This global softness provided a bearish cue for local traders.
Since the late August peak above Rs. 483,000, gold has now lost approximately Rs. 49,000 per tola. The metal remains above the July lows near Rs. 421,000, but the inability to sustain any recovery suggests that further downside may lie ahead if global weakness persists.
Earlier this week, Gold rate in Pakistan posted a modest gain on Monday, with the yellow metal extending its recovery for a second consecutive session. The 24-karat gold rate rose by Rs. 1,200, closing at Rs. 437,536 per tola.
This small advance suggests that buying interest is gradually returning, though the pace of gains remains subdued compared to the volatility seen in recent weeks. The market appears to be in a phase of cautious stabilization.
In 10 grams, 24-karat gold increased by Rs. 1,029 to Rs. 375,116, while 22-karat gold rose by Rs. 943 to Rs. 343,868. The consistent gains across all variants indicate measured buying pressure.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for purity 999 (24K).
