Gold prices in Pakistan recorded a major decline, falling by Rs8,600 in a single day. The price of Gold per tola settled at Rs519,962 after remaining unchanged at Rs528,562 just a day earlier.
The drop was also visible in 10-gram Gold, which decreased by Rs7,373. It closed at Rs445,783, reflecting a strong downward trend in the local bullion market.
According to the latest rates, Gold per tola now stands at Rs519,962. The price for 10 grams is Rs445,783. Meanwhile, silver also experienced a sharp fall, dropping by Rs501 to reach Rs8,324 per tola.
International markets influenced the local slump. Global Gold prices declined by $86 per ounce, settling at $4,972, including a $20 premium. The global fall put pressure on domestic prices.
During the past week, Gold rates showed fluctuations. On February 12 and 11, the price remained steady at Rs528,562 per tola. On February 10, it stood at Rs526,262. The rate was Rs524,762 on February 9. Earlier, on February 7, the price was Rs519,462.
In terms of purity, 22K Gold per tola is priced at Rs471,166. The rate for 21K per tola stands at Rs449,750. For 18K, the per tola price is Rs385,500.
Per gram, 22K Gold costs Rs40,395. The 21K rate per gram is Rs38,559, while 18K is priced at Rs33,051. For 10 grams, 22K stands at Rs403,956, and 21K at Rs385,595.
Silver followed the same bearish trend as Gold, adding to concerns for precious metal investors. Market analysts say international market movements often directly impact local bullion rates.
Traders believe the recent decline could attract buyers looking for lower entry points. However, uncertainty in global markets may continue to influence short-term price movements. Investors are advised to monitor international trends closely.
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