Gold prices in Pakistan recorded a sharp decline, reflecting a significant downturn in the global bullion market. On Tuesday, the price of gold per tola dropped by Rs10,700, bringing the new rate down to Rs459,462. Similarly, the price of 10 grams of gold fell by Rs9,174, settling at Rs393,914.
The downward trend was largely driven by a steep fall in international gold prices. Globally, bullion rates declined by $107 per ounce, pushing the international price to $4,371, inclusive of a $20 premium. This global slide has had an immediate and noticeable impact on domestic markets.
According to updated rates, gold per tola previously stood at Rs470,162, while 10 grams was priced at Rs403,088 before the latest reduction. The sharp correction has raised concerns among investors and traders who closely monitor price movements.
Silver prices also witnessed a decline, following the broader trend in precious metals. The price of silver fell by Rs145 per tola, bringing the new rate to Rs7,930. The drop in silver further highlights the pressure being felt across the precious metals market.
Market experts caution that continued volatility in international gold prices is directly influencing local rates, creating uncertainty for both investors and jewellers. Fluctuating global demand, changing economic indicators, and currency movements are contributing to the instability. As a result, traders are advising caution, noting that prices could remain unpredictable in the coming days. The current situation has made the market tense, with stakeholders closely watching global trends to assess future price direction.
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