Gold prices in Pakistan recorded a sharp decline on Saturday, mirroring losses in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola dropped by Rs12,489 to settle at Rs455,327. The rate of 10 grams of gold also fell significantly, decreasing by Rs11,240 to Rs389,772.
Previous Day's Decline
A day earlier, the precious metal had closed at Rs467,816 per tola after registering a decline of Rs1,469. The continuous drop in gold prices reflects the ongoing trend in the global market.
International Market Impact
In the global market, gold prices fell by $124 per ounce to $4,328, including a premium of $20. This international downturn has directly influenced the local market, leading to the substantial reduction in prices across Pakistan.
Silver Prices Also Decline
Silver prices also moved lower, with the per tola rate declining by Rs463 to Rs7,267 in the local market. The precious metals market continues to experience volatility amid global economic uncertainties.
Hot and dry weather is expected to persist across most parts of Pakistan, but this is unlikely to affect the precious metals market in the coming days.
