Gold prices in Pakistan started the week with another decline, falling by Rs1,800 per tola. The latest drop came as international bullion rates continued to weaken.
According to Sarafa Market rates, the price of 24K gold fell to Rs466,136 per tola. The price of 10-gram gold also decreased by Rs1,543 to Rs399,636.
The latest decline follows a much sharper correction recorded on Saturday. Gold had plunged by Rs15,100 per tola during the previous session, falling to Rs467,936.
The continued decline has pushed domestic gold prices further away from the record levels reached during the recent rally. Market participants are now watching international bullion prices closely for further direction.
Gold Rates in Pakistan
The latest domestic rates show that gold remained under pressure, while silver moved in the opposite direction.
Gold per tola fell by Rs1,800 to Rs466,136. Ten-gram gold declined by Rs1,543 to Rs399,636.
Silver, however, gained Rs67 per tola. Its latest price reached Rs7,179.
The movement in local gold prices remains closely linked to international bullion rates. A significant decline in global gold prices can quickly affect prices in Pakistan.
Currency movements can also influence domestic bullion prices. Changes in the Pakistani rupee against the US dollar can affect the local value of internationally traded gold.
Lahore Gold Rates
Gold rates in Lahore also remained lower following the latest market correction. The reported rates included a piece price of Rs460,500 and Rs459,500, depending on the market category.
Pathoor gold was reported at Rs455,000 and Rs453,000. The rate for 22-karat gold stood at Rs422,125, while 21-karat gold was priced at Rs402,937.
The reported selling rate for Tezabi stood at Rs7,050, while the selling rate for a kilogram gold bar was Rs7,100.
Market watchers are now waiting to see whether international gold prices will recover or continue falling. Further movements in global bullion markets could have a direct impact on gold rates in Pakistan.
For consumers, the final jewellery price can also differ from the quoted bullion rate. Making charges, dealer margins and other costs are usually added when purchasing jewellery.
The latest decline marks another setback for gold after its strong rally in recent weeks. Investors and buyers are therefore closely monitoring the market for signs of a possible recovery or further correction.
Also read: Gold Price in Pakistan Today
