KARACHI – Gold prices in Pakistan fell sharply on Monday as the local market reacted to a stronger rupee and a global decline in bullion rates. The fall marks one of the most significant daily drops in recent weeks, reflecting both international and domestic market pressures.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold declined by Rs3,300 per tola, settling at Rs430,362. Similarly, the rate for 10 grams of 24-karat gold fell by Rs2,829 to Rs368,966. For 22-karat gold, 10 grams were sold at Rs338,231, showing a decrease of Rs2,593 compared to the previous session.
Analysts explained that the fall in gold prices was largely driven by a global decline in bullion rates, combined with the strengthening of the Pakistani rupee in interbank trading. A stronger local currency typically reduces the cost of importing gold, leading to lower domestic prices.
On the international front, the price of gold dropped by $33 per ounce, settling at $4,080. Experts attributed this global dip to easing geopolitical tensions and a firm U.S. dollar, which often prompts investors to shift away from gold — traditionally considered a safe-haven asset.
The silver market followed a similar trend. The 24-karat silver rate declined by Rs27 per tola, reaching Rs5,097, while 10 grams of silver were priced at Rs4,369, down by Rs24. In the global market, international silver traded at $48.35 per ounce, reflecting a slight decrease of $0.27.
Market observers noted that fluctuations in gold prices are closely linked to currency exchange rates and global economic trends. The APSGJA reaffirmed that all rates are based on a 24-karat purity level, calculated at a 999 standard.
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With the ongoing volatility in international markets, experts advise investors to monitor gold prices closely before making any major buying or selling decisions.
