Gold Prices in Pakistan Drop Sharply Amid Global Decline
KARACHI: Gold prices in Pakistan fell significantly on Thursday, reflecting the downward trend in the international bullion market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola dropped by Rs. 4,100, bringing it down to Rs. 384,000. This marks the first decline of the month after days of record highs.
10-Gram and International Prices
The price of 10-gram gold also decreased by Rs. 3,515, now standing at Rs. 329,218.
In the global market, gold prices slipped by $36 per ounce, closing at $3,618, which includes a $20 premium, APGJSA reported.
Recent Price Trend
Gold rates had remained unchanged on Wednesday at Rs. 388,100 per tola, after touching an all-time high on Tuesday. The sudden correction has been attributed to pressure from the international market.
Silver Prices Also Decline
Silver prices in the local market also fell, with the per tola rate dropping by Rs. 32 to settle at Rs. 4,326.
Market Outlook
Analysts suggest that fluctuations in the global market and changing investor sentiment continue to impact domestic bullion rates. Traders and buyers are advised to monitor international trends closely before making purchases.
