Gold prices in Pakistan continued their downward trend on Wednesday, with the price of 24-karat gold falling by Rs5,200 per tola to Rs419,636, following a decline in international bullion markets. The latest drop comes as global gold prices weakened, while silver also recorded losses in both international and domestic markets.
According to the latest market rates, the price of 10 grams of 24-karat gold declined by Rs4,458, settling at Rs359,770. The decrease reflects continued weakness in global bullion prices, which have directly influenced Pakistan’s local gold market in recent days.
Internationally, gold prices fell by $52 per ounce, bringing the rate down to $3,972 per ounce, including a premium of $20. The decline in global prices has been mirrored in Pakistan, where domestic gold rates closely follow movements in international markets and fluctuations in the value of the US dollar.
The latest fall comes just one day after gold prices had already dropped by Rs4,100 per tola, when the precious metal closed at Rs424,836 on Tuesday. The back-to-back declines indicate continued pressure on gold prices amid changing global market conditions.
Silver prices also moved lower alongside gold. The price of silver per tola fell by Rs107, bringing the new domestic rate to Rs6,242. The decline reflects the broader weakness seen across precious metals in international trading.
Market analysts say Pakistan’s gold market remains heavily influenced by international bullion prices and exchange rate movements. Any changes in global economic conditions, investor sentiment, or the US dollar are likely to continue impacting local gold and silver prices in the coming days.
Also read: Huge Drop in Gold Prices in Pakistan
