Gold prices decline by Rs2,300 per tola
Gold prices in Pakistan witnessed a notable reduction on Saturday after several consecutive days of upward movement, offering some relief to buyers as fluctuations continue in both local and global bullion markets. According to market data, gold prices decline by Rs2,300 per tola, bringing the new price down to Rs442,162 per tola in the local bullion market. Traders said the sudden dip came after a sharp rise earlier in the week, with the market reacting to a cooling trend in international metal prices.
The All Pakistan Gems and Jewellers Association confirmed the reduction, adding that the price of 10 grams of gold also registered a decline of Rs1,972, settling at Rs379,082. Jewelers noted that demand has remained inconsistent over the past few weeks due to rapid fluctuations, as buyers continue to watch the market closely for price stability before making major purchases. Dealers say the volatility is linked to shifting global trends, currency movement, and overall investor sentiment.
In the international market, gold dropped by $23, bringing the global rate to $4,198 per ounce. Investors worldwide have been adjusting positions amid expectations of potential shifts in interest rates and inflation trends, which continue to influence gold’s demand as a safe-haven asset. Despite the decline in gold rates, silver prices remained unchanged in Pakistan, with the per tola rate standing firm at Rs6,972 according to local jewellers. Market observers say the stability in silver suggests limited immediate movement in the metal compared to gold, which remains more sensitive to global financial changes.
Bullion traders predict that gold prices may continue to fluctuate in the coming days as global indicators remain uncertain. The decrease has been welcomed by buyers ahead of the wedding season, although many remain cautious as prices could rise again depending on international market momentum. The latest adjustment comes as the gold sector in Pakistan continues to respond rapidly to global economic pressures, currency fluctuations, and changing investment patterns.
