Gold and silver prices declined in Pakistan on Wednesday, October 1, as international bullion rates also recorded a drop, according to the All Pakistan Sarafa Association.
The price of 24-carat gold decreased by Rs3,000 per tola, bringing the new rate to Rs438,636 per tola.
The latest decline marks the second consecutive session in which gold prices have fallen in both Pakistan and international markets.
Gold Price Falls in Local Market
According to the All Pakistan Sarafa Association, the price of 24-carat gold dropped by Rs3,000 per tola.
Following the decrease, one tola of 24-carat gold is now priced at Rs438,636.
The price of gold on a 10-gram basis also declined. The rate for 10 grams of 24-carat gold fell by Rs2,572, reaching Rs376,059.
The latest movement comes after gold prices had remained at elevated levels in the domestic bullion market.
International Gold Prices Decline
The decline in Pakistan’s gold market followed a decrease in international gold prices.
Gold prices in the international market fell by $30 per ounce, reaching $4,161 per ounce.
Movements in international bullion prices can directly influence local gold rates, along with other factors such as currency movements and domestic market conditions.
The latest international decline was reflected in Pakistan’s bullion market, contributing to the Rs3,000 reduction in the local price of gold.
Silver Prices Also Decrease
Silver prices also recorded a decline in Pakistan.
According to the All Pakistan Sarafa Association, the price of silver decreased by Rs50 per tola.
Following the latest reduction, silver is now priced at Rs6,528 per tola.
The decline in silver came alongside the fall in gold prices and reflected the broader downward movement in precious-metal rates during the session.
Precious Metal Market Under Pressure
The latest price movements show that both major precious metals recorded declines in Pakistan.
Gold has now fallen for two consecutive sessions in the domestic market, while international prices have also moved lower during the same period.
For buyers and investors, daily changes in international bullion prices remain an important factor in determining local market rates. Changes in the international price of gold are generally reflected in Pakistan after taking domestic market conditions into account.
The current rates may therefore change again depending on developments in global bullion markets, currency movements and local demand.
Current Gold and Silver Rates
After Wednesday’s decline, the key rates reported by the All Pakistan Sarafa Association are:
- 24-carat gold: Rs438,636 per tola
- 24-carat gold: Rs376,059 per 10 grams
- Silver: Rs6,528 per tola
- International gold: $4,161 per ounce
The precious metals market will continue to be closely watched as investors and consumers assess further movements in international and domestic prices.
Also read: Gold Price Drops Rs. 3,700 in Pakistan
