Gold prices started the first week of June on a weaker note, as a significant decline was recorded in both local and international markets. The latest figures show that the Gold Rates drop has affected investors and buyers across Pakistan after recent gains in the precious metals market.
According to the latest market data released on June 1, the price of gold per tola in Pakistan fell by Rs4,400. Following this decrease, the new per-tola rate settled at Rs471,762. Meanwhile, the price of 10 grams of gold dropped by Rs3,773, bringing it down to Rs404,459.
Latest Gold Prices in Pakistan
| Item | New Price |
|---|---|
| Gold (Per Tola, Pakistan) | Rs471,762 |
| Gold (10 Gram, Pakistan) | Rs404,459 |
| Gold (International, per ounce) | $4,494 |
| Silver (Per Tola, Pakistan) | Rs8,059 |
The latest Gold Rates drop comes shortly after a positive trading session on Saturday. During that session, gold prices had increased by Rs1,300 per tola, reaching Rs476,162. However, the upward momentum proved short-lived as the market reversed direction at the start of the new week.
Analysts believe the decline in local gold prices was largely influenced by international market trends. Global gold prices also moved lower, putting pressure on domestic rates. On the international market, gold lost $44 per ounce and settled at $4,494 per ounce, including a premium of $20.
The fall in global prices directly impacted local bullion markets, resulting in the sharp adjustment seen across Pakistan. Traders noted that changing investor sentiment and market conditions contributed to the downward movement.
Despite the weakness in gold, silver performed differently. The white metal posted gains during the same trading session. Silver prices increased by Rs46 per tola, taking the new rate to Rs8,059.
This rise in silver offered some relief to precious metal investors, especially as the Gold Rates drop continued to dominate market activity. Market participants will now closely monitor international developments and economic indicators for further direction in gold and silver prices during the coming days.
The latest movement highlights the volatility of precious metals and the close connection between local and international markets.
In other news read more about: Gold Prices Drop Rs1,100 per Tola in Pakistan – Check Latest Rates
