Gold rates recorded a sharp decline in Pakistan on Saturday. The fall followed a significant drop in international bullion prices.
The Gold Price for 24-karat gold fell by Rs 15,100 per tola during the day. According to the All Pakistan Gems and Jewellers Sarafa Association, the rate closed at Rs 467,936 per tola.
The decline came after gold remained unchanged during the previous trading session.
Gold Price Falls Sharply in Pakistan
The price of 24-karat gold stood at Rs 483,036 per tola on Friday. However, rates moved sharply lower on Saturday. The decline brought the price down to Rs 467,936 per tola.
This represented a single-day decrease of Rs 15,100. The Gold Price for 10 grams also recorded a substantial fall.
The rate declined by Rs 12,946 to settle at Rs 401,179 per 10 grams. The latest movement reflects volatility in both domestic and international precious metals markets.
International Gold Rate Drops
Gold also recorded a major decline in the international market on Saturday. According to the provided market data, international gold fell by $151 per ounce.
The international rate settled at $4,605 per ounce. This figure included a premium of $20. Changes in global bullion markets often influence domestic gold rates in Pakistan.
International prices can move due to several economic factors. These include currency movements, interest rate expectations and investor demand.
However, the latest domestic decline followed the downward movement reported in international gold prices.
Silver Price Also Declines
Silver prices also moved lower in Pakistan during Saturday’s trading. The price of silver decreased by Rs 397 per tola.
Following the decline, silver closed at Rs 7,112 per tola. The simultaneous fall in gold and silver marked a weaker session for precious metals in the local market.
Gold Market Remains in Focus
The latest decline comes after gold prices remained stable on Friday. A Rs 15,100 fall per tola represents a notable change from the previous session’s level.
Buyers, investors and jewellers are likely to closely watch upcoming international market movements. The Gold Price in Pakistan may continue responding to changes in global bullion rates and local market conditions.
For now, 24-karat gold stands at Rs 467,936 per tola. The 10-gram rate is Rs 401,179.
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Silver, meanwhile, has fallen to Rs 7,112 per tola following Saturday’s decline.
