Gold price in Pakistan saw a massive fall on Tuesday, marking one of the biggest single-day drops in history. The decline came as global gold rates fell sharply amid strong currency movements and uncertain investor sentiment.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-carat gold dropped by a huge Rs14,000 per tola, bringing it down to Rs416,362. Similarly, the price of 10 grams of 24-carat gold decreased by Rs12,003, settling at Rs356,963. For 22-carat gold, the price stood at Rs327,227, down by Rs11,004 from the previous day.
In the international market, gold prices also fell sharply, dropping by $140 per ounce to reach $3,940. Experts say the global decline reflects a stronger US dollar and cautious investor behavior as markets adjust to new economic signals.
Silver prices followed the same trend. The price of 24-karat silver per tola decreased by Rs173 to Rs4,924, while 10 grams of silver fell by Rs148 to Rs4,221.
Market analysts suggest that the recent volatility in the interbank exchange rate and fluctuating global demand are major factors behind the drop. They believe gold price in Pakistan could continue to fluctuate as traders monitor global trends and currency shifts closely.
Despite the fall, many investors are viewing this as a buying opportunity, expecting prices to rebound if global conditions stabilize in the coming weeks.
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