Gold prices in Pakistan declined again on Tuesday, October 27, as falling international bullion rates weighed on the local market. The latest decrease reversed some of the previous session’s gains and brought the price of 24-karat gold closer to Rs422,000 per tola.
According to the latest reported rates, the price of 24-karat gold fell by Rs1,300 per tola to Rs422,136. The price of 10 grams of gold also decreased by Rs1,115, bringing the new rate to Rs361,913.
Silver prices also recorded a decline during the session. The price of silver dropped by Rs85 per tola to reach Rs5,793.
The latest movement may offer some relief to jewellery buyers. However, the continuing changes in precious metal prices show that the market remains uncertain.
Latest Gold and Silver Rates in Pakistan
The latest reported prices show a decline in both gold and silver. International gold prices also moved lower, contributing to the decrease in domestic rates.
The latest rates are:
- 24-karat gold per tola: Rs422,136
- 24-karat gold per 10 grams: Rs361,913
- International gold per ounce: $3,996
- Silver per tola: Rs5,793
International gold prices fell by $13 per ounce to $3,996. Global bullion prices are an important factor in determining gold rates in Pakistan, although the rupee-dollar exchange rate and local trading conditions can also influence domestic prices.
Tuesday’s decline follows the previous session’s recovery, showing how quickly gold prices can change in response to movements in international markets.
Gold Rates in Lahore
Gold quotations in Lahore varied by category, according to the reported market figures. Dealers quoted two rates for gold piece and two rates for Pathoor gold.
The reported quotations were:
- Gold piece: Rs418,500 and Rs418,000
- Pathoor gold: Rs413,500 and Rs411,500
These quotations differ from the national benchmark rate for 24-karat gold per tola. Buyers should confirm the purity, weight and applicable selling price with local dealers before making a purchase.
Gold Prices in Karachi and Peshawar
The reported gold selling price in Karachi stood at Rs418,500. In Peshawar, gold weighing 12.150 grams was quoted at Rs433,000.
The latest reported figures for the two cities are:
- Karachi: Rs418,500
- Peshawar gold, 12.150 grams: Rs433,000
- Peshawar Pathoor gold: Rate not available
City-level quotations may vary according to the type of gold, weight and local market conditions. Consumers should verify the latest prices before buying or selling gold.
Is This a Good Time to Buy Gold?
The latest reduction could provide some relief to people planning to purchase gold jewellery, particularly those preparing for weddings and other family events. However, buyers should remember that the quoted bullion rate does not usually include all jewellery-related expenses.
Making charges, wastage costs and other fees imposed by individual jewellers can increase the final purchase price. Customers should ask for a complete cost breakdown before making a decision.
For investors and traders, the latest decline highlights the importance of monitoring international bullion prices and currency movements. A fall in one session does not necessarily mean prices will continue to decline.
With gold prices changing frequently, buyers should compare rates from reputable dealers and consider their own budget before purchasing. The direction of the market will continue to depend partly on global bullion movements and local trading conditions.
Also read: Gold Prices Crash in Pakistan! 24K Gold Falls to Rs422,036 Per Tola
