Gold markets across Pakistan recorded a major decline today. The drop came after new rates were issued by the All Pakistan Sarafa Gems and Jewellers Association.
According to the latest update, the price of Gold per tola fell by Rs 8,600. The new rate now stands at Rs 519,962 per tola. This sharp fall reflects changes in both local and global bullion markets.
The price of Gold for 10 grams also dropped. It decreased by Rs 7,373 and settled at Rs 445,783. Traders say the fall was expected after weakness in international prices.
Silver prices also moved downward. The rate for 24-carat silver per tola declined by Rs 501. It now stands at Rs 8,324 in the local market.
On the global front, Gold prices also slipped. The price per ounce fell by $86, reaching $4,972. This decline influenced the domestic market and pushed local rates lower.
A day earlier, the situation was different. Gold prices had remained stable in both international and local markets. At that time, the international rate stood at $5,058 per ounce.
In Pakistan, the price of 24-carat Gold per tola was unchanged at Rs 528,562 during the previous session. The rate for 10 grams also held steady at Rs 453,156.
While Gold remained stable earlier, silver showed an upward trend. The price of silver per tola increased by Rs 90 to reach Rs 8,825. The rate for 10 grams also rose by Rs 78 to Rs 7,566.
Market analysts say Gold prices are moving within a narrow range. Investors are closely watching inflation trends and interest rate expectations. Currency movements are also affecting the market.
In other news read more about: Gold Prices Remain Stable in Pakistan as Global Market Holds Firm
Experts advise buyers and investors to monitor daily updates. Precious metal prices can change quickly due to global and local factors. They say careful tracking of Gold rates can help in making better buying or investment decisions.
