ISLAMABAD – The Gold price in Pakistan dropped again on Wednesday, marking the second consecutive day of decline. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by Rs7,100 to Rs533,262.
The cost of 10 grams of 24-karat gold also decreased by Rs6,087, settling at Rs457,186. Meanwhile, 10 grams of 22-karat gold saw a decline of Rs5,580, bringing its price to Rs419,102.
This fall in Gold price was not limited to Pakistan. In the international market, gold prices dropped by $71 per ounce, reaching $5,105. Analysts say global market trends, currency fluctuations, and investor sentiment contributed to the decline.
Silver prices in Pakistan mirrored this trend. The price of 24-karat silver per tola fell by Rs324, now being sold at Rs8,851. Similarly, 10 grams of silver dropped by Rs278 to Rs7,588.
Market experts suggest that the recent fall in Gold price may create opportunities for investors, while jewellery buyers could benefit from slightly lower rates. However, they caution that prices could remain volatile due to ongoing global economic uncertainties.
Traders and consumers are advised to monitor market movements closely before making purchases. The Pakistan market has seen significant fluctuations in gold and silver over the past few weeks, reflecting trends in both domestic and international bullion markets.
The current decline follows a short period of rising gold prices in Pakistan, which peaked before correcting downward. Analysts believe the local currency’s performance against the US dollar also impacts the pricing of precious metals in the country.
In other news read more about Gold Hits New High in Pakistan Amid Rising Oil Prices
As gold remains a popular investment and savings option in Pakistan, buyers and sellers alike are watching for signs of stabilization. The market is expected to respond to global economic cues and demand trends in the coming days.
