KARACHI – Gold prices in Pakistan continued their downward trend on Thursday, following a slump in international markets.
According to the latest data released by the All Pakistan Gems and Jewellers Association, the gold prices per tola dropped by Rs3,500, settling at Rs433,862. Similarly, the rate of 10 grams of gold declined by Rs3,001, reaching Rs371,966 in the local market.
The international gold market also witnessed a steep fall, with prices decreasing by $35 to settle at $4,115 per ounce. This consistent global decline has directly impacted local trading activity, as investors and buyers show caution amid volatility.
Just a day earlier, gold prices had fallen by Rs7,538 per tola, selling at Rs437,362. Likewise, 10 grams of 24-karat gold slipped by Rs6,463 to Rs374,967, while 22-karat gold traded at Rs343,732 after a reduction of Rs5,924.
Economic experts attribute the recent decline in gold prices to strengthening global currencies, easing inflation pressures, and reduced safe-haven demand. They also point out that uncertainty in the global economy continues to influence precious metal trading.
Meanwhile, inflation continues to trouble local consumers as prices of daily commodities surge. First-grade ghee and cooking oil are now being sold at Rs582 per liter, while second-grade products have risen to Rs540 per liter.
Sugar prices increased by Rs2 to Rs179 per kilogram, adding further strain to household budgets. Tomato prices have also skyrocketed, ranging between Rs500 and Rs700 per kilogram—well above the official rate of Rs368.
In other news read more about Gold Price in Pakistan Falls Sharply After US Interest Rate Cut
Market analysts warn that price instability in essential commodities may continue in the coming weeks. Authorities, however, have assured strict monitoring to curb hoarding and unfair pricing practices.
