Gold prices in Pakistan recorded a steep decline on Wednesday, with the per tola rate falling by Rs9,000 amid shifting global and domestic market trends. The drop comes after recent volatility that saw sharp increases earlier in the week.
According to latest bullion market figures, the price of gold per tola now stands at Rs514,762, while 10 grams of gold decreased by Rs7,716 to settle at Rs441,325. Analysts attribute the sudden slide to weakening international prices influencing local trading sentiment.
Global bullion markets also showed downward movement, with gold falling by $90 per ounce to $4,920, including a $20 premium. Traders say fluctuations in global demand and currency pressures often create ripple effects that directly impact domestic gold markets.
Market data from earlier this month highlights significant price swings. On February 14, gold reached Rs526,962 per tola, while rates hovered around Rs528,562 on February 11 and 12 before beginning a downward correction trend.
Different purity levels also reflected updated prices, with 22-karat gold at Rs473,000 per tola, 21-karat at Rs451,500, and 18-karat at Rs387,000. Per-gram and per-ounce values showed similar declines, confirming a broad-based fall across categories.
Silver prices followed the same pattern, dropping sharply to Rs8,014 per tola after a major decrease, adding to concerns about volatility in precious metals. Experts say investors are closely monitoring global trends for signals of whether prices will stabilize or continue fluctuating.
Also read: Gold Prices Slide Across Pakistan Markets Tuesday
