Gold price falls Rs1,500 per tola in Pakistan
Gold prices in Pakistan slipped on Friday, tracking losses in the international market, after recording sharp gains in the previous session.
According to figures shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola declined by Rs1,500 to Rs355,700, compared with Thursday’s close of Rs357,200. The price of 10 grams of gold also fell by Rs1,286, settling at Rs304,955.
The drop followed Thursday’s rally, when gold gained Rs2,000 per tola in the domestic market. Dealers attributed the volatility to fluctuations in global prices and changing investor sentiment ahead of signals from the US Federal Reserve on future interest rates.
In the international market, gold prices retreated by \$15 to \$3,330 per ounce, including a \$20 premium, as per APGJSA. Analysts noted that the metal has been trading within a narrow range in recent sessions as investors weigh inflationary risks against the likelihood of US monetary easing.
Gold Prices Surge in Pakistan Amid Global Upswing
Meanwhile, silver prices in the local market remained unchanged, with rates holding steady at Rs4,031 per tola.
Market watchers say gold in Pakistan continues to be influenced by both global pricing trends and movements in the rupee-dollar exchange rate. With investors awaiting clarity from Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium, bullion is expected to remain volatile in the short term.
The fall in domestic gold prices provides a temporary reprieve for retail buyers and jewellers, though demand in Pakistan has remained sensitive to frequent price swings and the broader economic slowdown. Analysts add that if international prices remain subdued, local rates could stabilize, but geopolitical risks and currency pressures may keep bullion demand strong as a traditional hedge.
Despite Friday’s decline, gold remains one of the most sought-after safe-haven assets in Pakistan, with buyers closely tracking global cues for future price direction.