The gold rate in Pakistan continued its downward trend on Saturday, marking the sixth consecutive day of decline. The latest drop came on the last trading day of the week, reflecting both local and international market movements.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola decreased by Rs900. With this change, the new rate stands at Rs356,200. Likewise, the price of 10 grams of gold also fell, dropping by Rs771 to settle at Rs305,384.
The international gold market also registered a slight decline. The price of gold per ounce slipped by $9, bringing the new value to $3,335. Although the fall was smaller compared to local rates, it contributed to the overall downward pressure.
Silver prices in Pakistan followed the same trend. The price of one tola of 24-karat silver decreased to Rs4,031, while 10 grams of silver dropped to Rs3,455. Traders observed that the consistent fall in both gold and silver prices is unusual, given their strong demand as safe-haven assets.
Market analysts suggest that the decline is linked to fluctuations in the international market, a stronger dollar, and changing investor sentiment. The gold rate in Pakistan often mirrors global market shifts, as local prices are adjusted based on international benchmarks and the rupee-dollar exchange rate.
For buyers, the ongoing decline could provide an opportunity to invest in gold at a lower cost. However, jewellers believe that the downward trend may not last long, as gold prices are historically volatile and can change with any shift in global economic conditions.
The continuous fall over the past week highlights the close connection between Pakistan’s gold rate and international market trends. Investors and customers are now keeping a close eye on the coming week to see whether the decline continues or a rebound occurs.
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