Gold prices in Pakistan recorded another significant decline on Saturday, October 31, with the price of 24-karat gold falling by Rs10,800 per tola to Rs409,736 as international bullion rates continued to move downward.
The latest reduction followed a Rs5,100 per tola decline on Friday, bringing the total decrease over two trading days to Rs15,900. The continuous fall has brought domestic gold prices closer to the Rs400,000 mark, offering some relief to people planning jewellery purchases.
According to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of 24-karat gold also decreased by Rs9,259 to Rs351,282.
Silver prices moved lower as well, falling by Rs142 per tola to Rs5,388.
The decline in Pakistan’s bullion market followed a substantial reduction in international gold prices, which dropped by $108 per ounce to $3,872.
Latest Gold and Silver Prices in Pakistan
The latest APGJSA rates show a significant decrease in both gold and silver prices compared with Friday’s levels.
The following table presents the reported market rates:
| Gold and Silver Rates | Friday, October 30 | Saturday, October 31 | Change |
|---|---|---|---|
| 24K gold per tola | Rs420,536 | Rs409,736 | -Rs10,800 |
| 24K gold per 10 grams | Rs360,541 | Rs351,282 | -Rs9,259 |
| Silver per tola | Rs5,530 | Rs5,388 | -Rs142 |
| International gold per ounce | $3,980 | $3,872 | -$108 |
The figures indicate that gold experienced its second consecutive daily decline, while silver also continued its downward movement.
These are benchmark rates issued by the association and may differ slightly from the final prices charged by individual jewellery shops.
Also read: Gold Rates in Pakistan Today
Gold Loses Rs15,900 in Just Two Trading Days
Saturday’s sharp reduction followed another significant decline recorded on Friday, October 30.
Gold prices had remained unchanged at Rs425,636 per tola on Thursday, October 29. They subsequently fell by Rs5,100 on Friday, bringing the rate to Rs420,536.
The market then experienced another reduction of Rs10,800 on Saturday, taking the price down to Rs409,736 per tola.
This means gold has lost Rs15,900 per tola in only two trading days.
The latest decline represents approximately 3.7% of Thursday’s price, highlighting the speed of the recent correction in Pakistan’s bullion market.
The consecutive reductions have also brought gold significantly closer to Rs400,000 per tola, although the latest announced rate remains above that level.
International Gold Prices Fall Below $4,000
The decline in Pakistan’s domestic market followed weakness in international bullion prices.
According to the reported market figures, international gold dropped by $108 per ounce on Saturday to reach $3,872.
The metal had already fallen below the important $4,000 level on Friday, when its international price declined by $51 to $3,980 per ounce.
The additional reduction on Saturday extended the downward movement in global markets and was reflected in Pakistan’s local gold rates.
International bullion prices are an important factor in determining domestic gold rates. Changes in the international market, along with currency movements and local market conditions, can influence the price buyers pay in Pakistan.
The latest decline therefore reflects the broader movement in global gold prices rather than an isolated change in the domestic jewellery market.
Gold Prices Crash in Pakistan! 24K Gold Falls to Rs422,036 Per Tola
Silver Prices Also Decline in Pakistan
Gold was not the only precious metal to become cheaper.
The price of silver fell by Rs142 per tola on Saturday, declining from Rs5,530 to Rs5,388.
The reduction followed a weaker international precious-metals market and added to the downward movement in domestic bullion prices.
Silver is commonly purchased for jewellery, household use and investment purposes. Its price movements are influenced by international market conditions, although local rates may also vary depending on currency movements and trading conditions.
The latest decline provides buyers with lower benchmark prices compared with the previous trading session.
Also read: Gold And Silver Rates Today
How Much Cheaper Is Gold for Buyers?
The latest reduction has made gold purchases less expensive compared with the rates recorded earlier in the week.
At the current benchmark rate of Rs409,736 per tola, buyers can estimate the value of different quantities as follows:
- Half a tola: Approximately Rs204,868, around Rs5,400 less than Friday.
- One tola: Rs409,736, representing a reduction of Rs10,800 in one day.
- Two tolas: Approximately Rs819,472, around Rs21,600 less than Friday.
Compared with Thursday’s rate, a one-tola purchase is now Rs15,900 cheaper.
However, customers should remember that these calculations are based on the association’s benchmark price for pure 24-karat gold. Jewellery shops may charge additional making costs, labour charges and other applicable fees.
The final amount can also depend on the purity, weight and design of the jewellery being purchased.
Gold Remains Below Its October Peak
The latest decline has also widened the difference between the current gold rate and its October peak.
Gold had reached Rs442,036 per tola on October 10, according to the figures cited in the report.
At Saturday’s rate of Rs409,736, the metal is now Rs32,300 per tola below that level, representing a decline of approximately 7.3%.
For someone comparing the value of a two-tola purchase, the difference between the October peak and the latest benchmark rate amounts to Rs64,600.
These figures illustrate the scale of the recent price correction, although they do not represent a guaranteed future saving or an investment return.
What the Latest Decline Means for Gold Buyers
The consecutive price reductions could provide an opportunity for people who were postponing jewellery purchases because of high gold rates.
However, buyers should remember that gold prices can change quickly in response to international market movements, exchange-rate fluctuations and local market conditions.
People purchasing jewellery should also confirm the prevailing rate with multiple jewellers and check the gold’s purity, weight and making charges before completing a transaction.
For existing gold holders, the decline means that the estimated market value of their holdings has decreased. For example, someone holding two tolas of gold would see an approximate Rs31,800 reduction in its benchmark value compared with Thursday’s rate.
The latest movement has brought gold close to Rs400,000 per tola, but whether it falls below that level will depend on upcoming developments in the international bullion market and domestic pricing conditions.
For now, Pakistan’s gold market has recorded two consecutive days of substantial declines, with silver prices also moving lower.
Also read: Gold Prices Crash in Pakistan! 24K Gold Falls to Rs422,036 Per Tola
