Gold prices in Pakistan declined for the second consecutive day on Thursday, August 27, while silver prices recorded a modest increase, according to the All-Pakistan Sarafa Gems and Jewellers Association.
The price of 24-karat gold decreased by Rs3,500 per tola, bringing the latest rate to Rs483,036 per tola.
Similarly, the price of 24-karat gold for 10 grams fell by Rs3,001, settling at Rs414,125.
Gold prices also declined in the international market, where the precious metal dropped by $35 per ounce to reach $4,605.
The latest decline comes amid continued volatility in global and domestic precious metals markets. Gold prices have remained sensitive to international market movements, currency fluctuations and changing investor sentiment.
Silver prices increase
While gold prices declined, silver moved in the opposite direction in Pakistan.
The price of silver increased by Rs50 per tola, reaching Rs7,329.
The rate of 10 grams of silver also rose by Rs43, taking the latest price to Rs6,283.
The contrasting movement in gold and silver prices highlights the continued volatility in Pakistan’s precious metals market.
Gold could cross Rs500,000
Despite the recent decline, market experts expect gold prices to remain volatile in the coming days.
Experts have also suggested that gold could cross the Rs500,000 per tola mark this month if international and domestic market conditions continue to support higher prices.
The latest drop therefore may not necessarily indicate a sustained downward trend, particularly as global gold prices remain at elevated levels.
For investors and consumers, further movements in international gold prices, exchange rates and local market conditions are expected to remain key factors influencing bullion prices in Pakistan.
Also read: Gold Price in Pakistan Today
