Gold prices in Pakistan recorded a sharp decline on Saturday, closing the week in the red.
According to data from the All Pakistan Gems and Jewellers Association, the per tola rate fell by Rs2,300, bringing the new price to Rs442,162. Meanwhile, the 10-gram price decreased by Rs1,972, settling at Rs379,082.
The drop in domestic rates follows a downturn in the international market, where gold per ounce slipped by $23 to reach $4,198.
Just a day earlier, the local bullion market had seen a strong rebound after a three-day losing streak. On Friday, the per tola price had climbed by Rs3,000 to Rs444,462, while the 10-gram rate rose by Rs2,358 to Rs381,054.
Recently, the Competition Commission of Pakistan (CCP) published its first-ever Competition Assessment Study of the country’s gold market. The detailed report — prepared by CCP’s Center of Excellence in Competition Law (CECL) — sheds light on the sector’s informal structure, unclear pricing mechanisms, and scattered regulatory framework.
The study notes that Pakistan’s annual gold consumption stands between 60 and 90 tonnes, mainly driven by cultural traditions, with over 90% of trading taking place outside regulated channels. The country relies heavily on imports, bringing in $17 million worth of gold during FY 2023-24.
The report also points to the major economic impact expected from the Reko Diq copper-gold project, which could generate up to $74 billion over its 37-year lifespan and significantly improve the nation’s gold supply chain
Also Read: Latest Gold Rates In Pakistan Today
