Gold price drop today: Rs1,000 slide sparks questions about next move

Gold price drop today created fresh interest in the local market as rates fell sharply across Pakistan. Traders were surprised as the price of 24-carat gold dropped by Rs1,000 per tola in a single day. According to the All Pakistan Sarafa Association, this fall came alongside a decline in global gold prices.

In the domestic market, 24-carat gold now sells for Rs443,162 per tola, after losing Rs1,000. The price of 10 grams of gold also fell by Rs858, bringing the new rate to Rs379,939. This change offers slight relief to buyers who have been watching constant increases over the past months.

While gold became cheaper, silver continued to rise. The price of silver increased by Rs81 per tola, reaching Rs6,085. This mixed movement in the precious metals market shows shifting global demand.

In the international market, gold also became cheaper. The global price dropped by $10 per ounce, bringing the international rate down to $4,208. Analysts believe global economic uncertainty and profit-taking contributed to this decline.

The combination of international and local price movements signals an important trend for buyers and investors. If global pressure continues, further dips may appear in the local market. However, traders say the market remains sensitive and can change quickly.

With the gold price drop today, many buyers are now waiting to see if rates fall further before making purchases. Investors are watching global indicators closely to plan their next move.