Gold price in Pakistan continued its downward slide on Thursday as global rates dropped again. The country’s gold market saw another steep fall, extending the week’s declining trend.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-carat gold fell by Rs3,500 per tola, bringing it down to Rs433,862. In the local market, the rate of 10 grams of 24-carat gold decreased by Rs3,001 to Rs371,966. Meanwhile, 10 grams of 22-carat gold were sold for Rs340,981 after a Rs2,751 drop from the previous day.
In the international market, gold price in Pakistan mirrored global movements as the yellow metal slipped by $35 to $4,115 per ounce. Analysts linked this fall to a stronger US dollar, rising global bond yields, and cautious investor sentiment.
Silver prices, however, remained unchanged. The rate of 24-karat silver per tola stayed at Rs5,110, while 10 grams of silver were sold for Rs4,381.
Experts say that gold’s decline is tied to global currency fluctuations and uncertain demand trends. They advise investors to keep an eye on both the international gold rate and Pakistan’s exchange market in the coming days.
With gold prices tumbling for two consecutive days, market watchers are now asking — will the downward streak continue or is a rebound on the horizon?
