The gold price in Pakistan continued its downward trend on Friday, marking the fifth consecutive session of decline. The fall comes amid lower global rates and a strengthening of major currencies worldwide.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-carat gold fell by Rs2,000 per tola, bringing it down to Rs431,862. Meanwhile, the price of 10 grams of 24-carat gold dropped by Rs1,714, settling at Rs370,252.
Similarly, 10 grams of 22-carat gold were sold at Rs339,410, reflecting a decrease of Rs1,571 from the previous session. The steady fall in gold price highlights the impact of global market trends and local currency fluctuations on Pakistan’s bullion market.
On the international stage, gold prices also moved lower, slipping by $20 to reach $4,095 per ounce. Analysts attribute the global decline to investor caution, a stronger U.S. dollar, and reduced demand for safe-haven assets.
Silver followed a similar path, with rates declining across the board. The price of 24-carat silver per tola dropped by Rs43 to Rs5,067, while 10 grams of silver fell by Rs36 to Rs4,344.
Experts believe that the gold price in Pakistan is likely to remain under pressure in the short term, especially as currency fluctuations and international demand uncertainty continue to weigh on the market.
In other news read more about Gold Prices Plunge by Rs3,500 Per Tola in Pakistan
Traders are now closely monitoring global monetary policies and local exchange rate movements, which are expected to play a key role in determining the next direction of precious metal prices in the coming weeks.
