Gold prices in Pakistan fell by Rs1,600 per tola on Saturday, dropping below Rs440,000 as international prices declined. The latest reduction came after gold recorded a strong recovery a day earlier.
According to rates released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold settled at Rs439,036 per tola. The price of 10-gram gold also decreased by Rs1,372, bringing it down to Rs376,402.
The latest decline reversed part of Friday’s increase, when gold prices rose by Rs2,800 per tola to close at Rs440,636. The market has experienced significant fluctuations over the past week, with prices moving up and down on several occasions.
International Gold Prices Also Decline
In the international market, gold prices dropped by $16 per ounce to settle at $4,165. The decline in global prices contributed to the reduction in local gold rates.
International gold prices are an important factor in determining rates in Pakistan. However, local prices can also be affected by currency movements and other market conditions.
The latest decrease pushed domestic gold prices below the Rs440,000 mark again, a level closely watched by buyers and investors.
Gold Records Weekly Loss of Rs3,000 Per Tola
Despite Friday’s recovery, gold ended the week with a net loss of Rs3,000 per tola. It had closed at Rs442,036 per tola the previous Saturday.
Prices remained volatile throughout the week. Gold lost Rs2,100 per tola on Monday before recovering Rs900 on Tuesday. On Wednesday, the precious metal recorded another sharp decline of Rs3,000 per tola. Prices remained unchanged on Thursday before rising by Rs2,800 on Friday.
Saturday’s fall wiped out part of that recovery and left gold lower than its level at the start of the week.
These price movements may affect people planning to purchase jewellery, invest in gold, or sell their existing holdings. Buyers should check the latest market rates before making a transaction, as prices can change with movements in international markets.
Silver Prices Also Fall
Silver prices also declined on Saturday. The metal lost Rs81 per tola to settle at Rs6,175.
Silver recorded a weekly loss of Rs380 per tola, showing that it also faced downward pressure during the period.
Gold and silver prices remain important indicators for jewellery buyers and investors in Pakistan. With both metals recording weekly losses, market participants will continue to watch international prices and local market developments for signs of the next move.
