Gold prices in Pakistan recorded a sharp decline on Tuesday, following a downward trend in the international bullion market.
According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold fell by Rs9,000 per tola, bringing it down to Rs514,762 in the local market. Similarly, the rate for 10 grams dropped by Rs 7,716, settling at Rs 441,325. This marks one of the most significant single-day declines in recent weeks.
Just a day earlier, gold had already decreased by Rs3,200 per tola, indicating sustained pressure on prices. The consistent drop reflects changes in global market dynamics, where investors are adjusting positions amid shifting economic signals.
In the international market, gold prices declined by $90 per ounce to reach $4,920. The global fall directly impacted local rates, as international trends and currency fluctuations largely determine Pakistan’s gold prices. A stronger dollar and reduced safe-haven demand are often key factors behind such corrections in bullion prices.
Silver prices also followed the same pattern. The price of silver fell by Rs150 per tola, closing at Rs8,014 in the domestic market.
Market analysts suggest that short term volatility may continue, especially as global investors respond to inflation data, interest rate expectations, and geopolitical developments.
For local buyers and investors, the recent dip may present an opportunity, though experts advise caution due to ongoing market uncertainty.
