Gold got cheaper in Pakistan this week after a fresh drop in both local and global markets, but prices are still above Rs 4.25 lakh per tola for now.
On Monday the All Pakistan Gems and Jewellers Sarafa Association said gold per tola fell Rs4,400 to Rs471,762. Ten grams dropped Rs3,773 to Rs404,459. Silver went the other way, rising Rs46 per tola to Rs8,059.
The local cut followed international losses. Spot gold slipped 1% to $4,489.34 per ounce after touching a two-week high on Friday, and US gold futures closed 1.9% lower at $4,506.30. A stronger US dollar and profit-taking dragged prices down.
Traders think more weakness is possible. Interactive Commodities Director Adnan Agar said gold touched $4,447 and could test the $4,100–$4,200 range before it recovers. Middle East tensions and stalled Iran-US talks are keeping investors nervous, which usually lifts the dollar and pressures gold.
So has gold gone below Rs 4.25 lakh? Not yet. At Rs 471,762, it’s still about Rs46,000 higher.
But the trend is down. Pakistan has seen sharp cuts recently Rs35,500 in one day, Rs21,400 another day, and Rs12,479 after global rates slid $124 per ounce. The rupee was steady at 278.47 against the dollar, so the drop came mainly from world markets.
For buyers, gold is much cheaper than last month’s peak above Rs 5.3 lakh. If global prices hit $4,100–$4,200 as forecast, Pakistan could see tola rates approach or break Rs 4.25 lakh soon.
