Domestic Precious Metal Prices Fall
Gold and silver prices declined in both domestic and international markets, reflecting continued weakness in global bullion trading. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by Rs1,000 to Rs431,236 in the local market. The price of 10 grams of 24-karat gold also declined by Rs730, settling at Rs369,715.
Silver prices followed the same trend, with the rate of 24-karat silver per tola dropping by Rs271 to Rs6,393. The decline in domestic prices aligns with movements in the international market.
International Market Trends
In the international bullion market, gold prices decreased by $10 per ounce to $4,088, contributing to the downward movement in domestic precious metal prices. The drop in global prices has been attributed to shifting investor sentiment and market dynamics.
The All Pakistan Sarafa Gems and Jewellers Association monitors and reports daily fluctuations in gold and silver rates, providing transparency to consumers and traders. The recent decline offers a slight respite for buyers, though prices remain elevated compared to historical levels.
Market analysts suggest that further price movements will depend on global economic indicators, currency fluctuations, and demand trends in major markets such as China and India.
