Gold prices in Pakistan moved lower on Thursday, reversing gains recorded during the previous three trading sessions. According to market data released by the All Pakistan Sarafa Gems and Jewellers Association (APGJSA), the price of 24-karat gold per tola declined by Rs2,300 to reach Rs452,936. Similarly, the rate for 10 grams of 24-karat gold dropped by Rs2,070, bringing the price down to Rs387,615.
Silver Prices Also Decline
Silver prices also witnessed a downward trend, with the per tola rate decreasing by Rs144 to settle at Rs7,359. The decline in precious metals comes after a period of gains in the local market.
International Market Influence
The fall in local precious metal prices mirrored developments in the international market, where gold shed $23 per ounce and was trading at $4,305 per ounce. The global trend often impacts domestic rates in Pakistan.
Key Points:
- 24-karat gold per tola: Rs452,936 (down Rs2,300)
- 10 grams of 24-karat gold: Rs387,615 (down Rs2,070)
- Silver per tola: Rs7,359 (down Rs144)
- International gold: $4,305 per ounce (down $23)
Market analysts suggest that fluctuations in global commodity prices, currency exchange rates, and demand-supply dynamics continue to influence the bullion market in Pakistan.
