Gold price in Pakistan falls by almost Rs. 5,000 per tola, marking one of the sharpest single-day declines in recent weeks. The sudden drop in gold rates has caught the attention of both investors and jewelry buyers across the country.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold decreased by Rs. 4,900 per tola, settling at Rs. 238,000. Similarly, the rate for 10 grams of gold dropped by Rs. 4,200 to Rs. 203,948.
Gold price in Pakistan falls by almost Rs. 5,000 per tola mainly due to a decline in global bullion rates and a stronger Pakistani rupee against the US dollar. Internationally, the price of gold slipped to around $2,380 per ounce as investors shifted focus toward upcoming economic data and interest rate decisions.
Market analysts suggest that the downward trend could continue if the rupee remains stable and global gold prices do not rebound. However, some traders believe that demand might increase locally as lower prices attract buyers ahead of the wedding season.
In the silver market, rates also saw a slight decrease, with 24-karat silver trading at Rs. 2,800 per tola. The reduction reflects the overall cooling trend in precious metals this week.
Gold price in Pakistan falls by almost Rs. 5,000 per tola, bringing temporary relief to consumers who have faced record-high rates in recent months. Experts advise buyers to monitor market conditions closely before making investment decisions, as gold prices often fluctuate with changes in currency value and international trends.
The local bullion market is expected to remain cautious in the coming days as traders assess global economic indicators and domestic currency performance.
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