Gold prices recorded a significant decline in Pakistan on Saturday, following a sharp drop in international bullion markets during the final trading session of the week.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola fell by Rs. 12,489, bringing the new rate down to Rs. 455,327. The substantial decrease provided some relief to buyers after gold prices had remained at elevated levels in recent weeks.
The price of 10 grams of gold also witnessed a major reduction. Market data showed that the rate dropped by Rs. 11,240, settling at Rs. 389,772. The decline reflects the impact of falling global gold prices, which often influence local market rates in Pakistan.
The latest decrease comes a day after gold had already experienced a downward trend. On Friday, the precious metal lost Rs. 1,469 per tola and closed at Rs. 467,816. The additional drop on Saturday pushed prices significantly lower, making it one of the biggest single-day declines seen in recent months.
Experts believe that changes in international demand, investor sentiment, and global economic conditions contributed to the sharp fall in gold prices. Movements in the international market are closely monitored by traders, as local gold rates generally follow global trends.
In the international bullion market, gold prices also suffered notable losses. The price of the precious metal declined by $124 per ounce, bringing the global rate down to $4,328 per ounce. The steep drop in international prices was the primary factor behind the reduction in local gold rates.
Meanwhile, silver prices also moved downward. According to market figures, silver lost Rs. 463 per tola during the day. As a result, the new price of silver settled at Rs. 7,267 per tola.
Jewellers and traders said the latest decline has attracted attention from investors and consumers alike. Some buyers may see the lower prices as an opportunity to make purchases, while market participants continue to watch international developments that could influence future trends in gold and silver prices.
