Gold prices in Pakistan witnessed a sharp decline on Wednesday, reflecting the downward trend in the international market. The drop in gold rates came as global prices decreased, impacting local markets as well.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs. 10,000, bringing it down to Rs. 539,962. Similarly, the rate of 10-gram gold decreased by Rs. 8,573 and was recorded at Rs. 462,930. The reduction follows a significant drop earlier, as on Tuesday the price per tola had already fallen by Rs. 13,900 before reaching Rs. 549,962.
The decline in gold prices is mainly linked to changes in the global market. International gold rates decreased by $100, lowering the price to $5,172 per ounce, with an additional premium of $20. Fluctuations in international demand, currency strength, and economic conditions continue to influence local gold prices in Pakistan.
Despite the fall in gold rates, silver prices showed a slight increase. The price of silver rose by Rs. 100 per tola and reached Rs. 9,004. This small rise contrasts with the overall downward movement in the gold market.
Market analysts suggest that global economic trends and international price adjustments play a key role in determining local precious metal values. Traders and investors continue to monitor global developments closely as gold prices remain sensitive to international market shifts and financial conditions.
Also Read: Gold Prices Slide Across Pakistan Markets Tuesday
