KARACHI – The gold price in Pakistan saw a major decline on Friday, following a drop in international gold rates. The decrease has affected both 24-karat and 22-karat gold in the local market.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold fell by Rs3,300 per tola, bringing it down to Rs439,762. In terms of 10 grams, 24-karat gold decreased by Rs2,829, settling at Rs377,025. Similarly, 10 grams of 22-karat gold were sold at Rs345,618, down by Rs2,594 compared to the previous day.
The fall in gold price in Pakistan reflects the international market trend, where gold lost $33 per ounce to reach $4,174. Analysts say the decline is linked to strengthening global currencies and cautious investor sentiment worldwide.
Silver prices also followed a similar downward trend. The rate of 24-karat silver per tola dropped by Rs140 to Rs5,522. Meanwhile, 10 grams of silver were being sold for Rs4,734, marking a significant reduction in precious metal prices across the country.
Market experts advise investors and buyers to monitor the situation closely, as global trends continue to influence the local gold price. They suggest that fluctuating international rates, currency strength, and economic conditions will determine short-term market movements.
The current drop provides an opportunity for potential buyers to purchase gold at lower rates, while sellers may need to adjust their strategies according to the declining prices.
Overall, Friday’s market activity highlights the close connection between global gold trends and domestic prices in Pakistan. Investors, traders, and consumers are encouraged to stay informed about both local and international developments to make sound decisions regarding gold and silver investments.
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The decrease in gold price also affects jewelry markets, bullion traders, and investors who rely on precious metals for savings, emphasizing the importance of tracking market fluctuations closely.
