ISLAMABAD: Gold prices in Pakistan continued to decline on Saturday, marking the third consecutive day of losses.
The price of 24-karat gold dropped by Rs. 700, bringing the new rate to Rs. 410,936 per tola.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of gold also decreased.
The association reported a reduction of Rs. 600, bringing the price of 10-gram gold to Rs. 352,311.
The latest decline followed two days of larger price reductions in the local bullion market.
Gold Loses Rs. 16,500 Per Tola in Three Days
Gold prices have recorded a significant decline over the past three trading days.
On Thursday, the price of gold fell sharply by Rs. 10,900 per tola.
The downward trend continued on Friday, when gold recorded another decrease of Rs. 4,900 per tola.
Saturday’s reduction of Rs. 700 brought the total three-day decline to Rs. 16,500 per tola.
Before the decline, gold was trading at Rs. 427,436 per tola on Wednesday.
The latest rate of Rs. 410,936 represents a notable reduction from that level.
Although Saturday’s decrease was smaller, it extended the downward movement in domestic gold prices.
International Gold Prices Also Decline
The decline in Pakistan’s gold market followed a similar movement in international prices.
According to the reported figures, international gold prices decreased by $7 per ounce.
The latest global rate stood at $3,884 per ounce.
Changes in international bullion prices can influence gold rates in Pakistan.
However, domestic prices may also reflect currency movements and other market factors.
The latest figures show that both local and international gold prices moved downward.
Silver Prices Drop in Pakistan
Silver prices also declined alongside gold in the domestic market.
According to the latest rates, silver became cheaper by Rs. 124 per tola.
The new silver price stood at Rs. 5,343 per tola.
The reduction came during the same period of falling gold prices.
Both precious metals recorded losses in Saturday’s reported market rates.
What Are the Latest Gold Prices in Pakistan?
Following the latest decrease, buyers can calculate gold costs using the updated APGJSA rates.
Half a tola of 24-karat gold now costs approximately Rs. 205,468.
Meanwhile, one tola is priced at Rs. 410,936.
Buyers purchasing two tolas would pay approximately Rs. 821,872 for the gold itself.
This represents a saving of Rs. 33,000 compared with Wednesday’s reported prices.
However, these calculations are based on pure 24-karat gold rates.
Jewellery purchases may include additional making charges and other applicable costs.
Gold Loses Value as Buyers Monitor Market Rates
The continued decline has reduced the cost of gold compared with earlier this week.
However, future price movements remain uncertain because gold rates can change with market conditions.
Buyers and investors may continue monitoring domestic and international prices before making purchasing decisions.
The APGJSA’s latest figures confirm that gold has lost Rs. 16,500 per tola over three consecutive trading days.
In other news read more about Gold Price Drops Sharply in Pakistan to Rs. 4.1 Lakh Per Tola
As of Saturday, the official reported rate stood at Rs. 410,936 per tola.
