Gold prices in Pakistan recorded another drop on Wednesday, ending the recent upward momentum seen earlier this week as international bullion markets continued to weaken. According to the All Pakistan Sarafa Gems and Jewelers Association, the price of gold per tola fell by Rs. 1,100, settling at Rs. 491,362.
The rate for 10 grams of gold also witnessed a decline of Rs. 943, bringing the new price to Rs. 421,263. This comes just a day after gold prices jumped by Rs. 4,100 per tola in the local market.
Internationally, gold prices slipped by $11 per ounce, with the global rate reaching $4,690 per ounce. Market analysts believe the fluctuation is linked to ongoing uncertainty in global financial markets and changing investor sentiment toward safe-haven assets.
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Meanwhile, silver prices moved in the opposite direction. The price of silver increased by Rs. 231 and settled at Rs. 9,139 in local markets.
Pakistan’s gold market has experienced repeated volatility over the past few weeks, with prices frequently reacting to shifts in international bullion rates and economic developments worldwide.
