Gold prices in Pakistan continued to fall on Saturday, marking the sixth day of decline in a row. This drop comes as both local and international markets show signs of weakening demand.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola (24-karat) decreased by Rs900. The new price is now Rs356,200. Similarly, the price of 10 grams of gold dropped by Rs771, bringing it to Rs305,384.
The global market also followed a downward trend. The international price of gold per ounce fell by $9, reaching $3,335. Experts say small shifts like this are common, especially when investor confidence is low or when the dollar gains strength.
Silver also saw a decrease in Pakistan. The price of one tola of 24-karat silver is now Rs4,031. Ten grams of silver are priced at Rs3,455.
This continuous decline in gold prices affects both investors and the jewellery industry. Buyers may take advantage of the lower prices, but sellers might face reduced profits. Many people in Pakistan use gold as a traditional form of investment or savings, so price changes can have a big impact.
The local market often mirrors international trends, and current prices reflect global economic concerns. Factors like inflation, interest rates, and currency movements continue to influence gold rates worldwide.
Traders are watching the market closely. If the trend continues, further price cuts may be seen in the coming week.
In summary, gold prices in Pakistan have dropped again, both locally and globally. Buyers may benefit, but sellers remain cautious amid continued market uncertainty.
In other related news also read Gold Rates Drop Across Pakistan
