Gold prices in Pakistan fell on Saturday, reversing part of the gains recorded in the previous session as international bullion rates also declined.
The price of gold dropped by Rs2,100 per tola to Rs450,936. The rate of 10-gram gold also decreased by Rs1,800, reaching Rs386,604.
The latest decline came a day after gold recorded a strong increase in the domestic market. On the previous day, the price had risen by Rs4,700 per tola to Rs453,036.
The movement in Pakistan’s gold market followed a decline in international bullion prices. Gold in the global market fell by $21 per ounce to $4,284. The weaker international rate contributed to the downward movement in domestic prices.
Silver also recorded a decline in Pakistan. The price of silver fell by Rs60 per tola to Rs6,903.
The latest gold rates continue to reflect changes in the international bullion market, with local prices moving in response to fluctuations in global rates. The domestic market has seen noticeable changes over recent sessions, with gold moving higher one day before giving back part of those gains.
For buyers and sellers, the daily movement means gold prices can change significantly within a short period. People planning to purchase gold for jewellery or investment purposes are therefore advised to check the latest market rate before making a transaction.
The decline in Saturday’s price comes despite the metal remaining at a historically high level in the domestic market. The international gold price also remains closely watched by traders and investors because movements in global bullion markets can affect local prices.
Market participants will continue to monitor international gold prices, currency movements and other factors that influence bullion rates in Pakistan. Any further changes in global prices could affect domestic gold and silver rates in the coming sessions.
With the latest reduction, the price of one tola of gold now stands at Rs450,936, while 10 grams are priced at Rs386,604. International gold is trading at $4,284 per ounce, while silver is available at Rs6,903 per tola.
