Gold Rate in Pakistan Suffers Massive Decline
The gold rate in Pakistan recorded one of its biggest single-day declines on Friday after international bullion markets witnessed a sharp crash. According to the All Pakistan Sarafa Gems and Jewelers Association, the price of gold per tola dropped by Rs. 15,500, bringing the new rate down to Rs. 476,862.
The price of 10 grams of gold also saw a major decrease, falling by Rs. 13,289 to settle at Rs. 408,832 in local markets. Just a day earlier, gold prices had increased by Rs. 1,000 per tola before reversing sharply during today’s trading session.
Internationally, gold prices declined by approximately $155 per ounce, reaching $4,690 per ounce, which directly impacted domestic bullion prices in Pakistan. Analysts believe profit-taking in global markets and easing investor demand for safe-haven assets contributed to the sudden fall.
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Silver prices also moved downward in Pakistan, decreasing by Rs. 972 to settle at Rs. 8,232. The sharp drop in precious metal prices comes amid continued volatility in global financial markets, fluctuating currency values, and uncertainty surrounding international economic conditions.
Market experts say gold prices may continue to fluctuate over the coming days depending on international economic data, US dollar performance, interest rate expectations, and geopolitical developments.
The latest decline has attracted significant attention from investors and jewelry traders across Pakistan, especially as gold prices had previously reached record highs in recent weeks.
