Gold prices in Pakistan recorded a sharp decline mid-week, reflecting a major ุณููุท in the international bullion market. The sudden drop surprised traders and investors across local markets.
According to market data, the price of gold per tola fell by Rs9,500 in a single day, settling at Rs494,662. This marks one of the steepest single-day declines in recent weeks, reversing earlier gains.
The rate for 10 grams of gold also dropped significantly by Rs8,415, bringing it down to Rs424,092. The fall comes just a day after gold prices had surged sharply, highlighting ongoing volatility.
Globally, gold prices also came under pressure, with the international rate declining by $95 to settle at $4,723 per ounce, including a $20 premium. Analysts link this drop to fluctuations in global demand and investor sentiment.
Silver prices followed a similar trend in the local market. The price per tola of silver decreased by Rs300, settling at Rs7,884, adding to the broader downturn in precious metals.
The sharp swings in both local and international markets reflect continued uncertainty in bullion trading. Investors remain cautious as prices fluctuate rapidly, making short-term trends difficult to predict.
Also read: Gold Prices Surge in Pakistan Following Market Rally
