The gold price in Pakistan fell sharply on Tuesday after a brief one-day increase, following a dip in international rates.
According to the All Pakistan Sarafa Gems and Jewellers Association, the gold price for 24-karat per tola decreased by Rs3,500, bringing the new rate to Rs420,362.
Similarly, the price of 10 grams of 24-karat gold dropped by Rs3,001, settling at Rs360,392. For 22-karat gold, the price stood at Rs330,263 per 10 grams, reflecting a fall of Rs2,859 compared to the previous day.
On the global front, the gold price declined by $35 to reach $3,980 per ounce. This drop is attributed to a stronger U.S. dollar and cautious investor sentiment amid global economic uncertainties.
Experts believe that changes in foreign exchange rates, coupled with shifting global demand, continue to play a key role in driving gold prices in Pakistan. Investors are now closely monitoring both domestic currency movements and international trends to assess future price directions.
Silver also sees a decline
Alongside gold, silver prices also witnessed a notable decrease. The rate of 24-karat silver per tola fell by Rs130 to Rs5,022, while 10 grams of silver were sold for Rs4,305.
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Analysts suggest that the recent fall in precious metal prices is linked to global market corrections and tightening monetary policies in key economies. Despite this, many expect demand for gold to remain steady in Pakistan as it continues to be a preferred investment option during economic uncertainty.
