Gold rates in Pakistan continued their downward trend over the weekend and into Monday, unsettling investors and jewellers as a sharp sell-off in international markets dragged local prices lower. The price of gold per tola fell to Rs 511,862, marking one of the steepest declines seen in recent weeks.
Similarly, the price of 10 grams of gold dropped to Rs 438,839, reflecting intense volatility in the bullion market. The latest fall comes just days after a major shock on Friday, when gold prices per tola had already plunged by Rs 35,500 to settle at Rs 537,362, amplifying concerns among market participants.
Market analysts attribute the sudden decline to heavy pressure from global markets, where gold prices witnessed a massive drop. International bullion prices slid by $255 per ounce to $4,895, including a $20 premium. This sharp correction directly impacted domestic rates, as Pakistan’s gold market closely tracks global trends.
The decline has also affected different purity levels of gold across the country, with prices of 22K, 21K, and 18K gold all recording noticeable drops. Jewellers report cautious buying behavior from consumers, as uncertainty over further price movements keeps both investors and buyers on the sidelines.
Silver prices were not spared from the turmoil either. In Pakistan, silver per tola fell sharply by Rs 2,063 to close at Rs 9,006. The simultaneous drop in both gold and silver has added to anxiety across the precious metals market, with traders closely watching international developments for signs of stabilization.
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