Gold Dips in Pakistan as Global Rates Soften
Gold prices in Pakistan recorded a sharp fall on Tuesday, mirroring a downward trend in the international market. According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of one tola of 24-karat gold dropped by Rs1,600 to settle at Rs354,700.
Similarly, the price for 10 grams of gold saw a decline of Rs1,372, closing at Rs304,098. The dip comes a day after gold prices also slipped slightly by Rs100 on Monday, when the per tola rate stood at Rs356,300.
Market experts attribute the fall in local prices to weakening global trends. In the international market, gold slipped by $16 per ounce, bringing the price to $3,320. This figure includes a premium of $20, as shared by the APGJSA.
Despite fluctuations in the gold market, the price of silver remained unchanged. Silver was sold at Rs3,963 per tola, showing no change from the previous day.
Jewellers and market analysts note that such price shifts are common, especially when international economic factors—such as changes in interest rates or the strength of the US dollar—affect investor sentiment.
The drop in gold prices may offer some relief to local buyers and investors looking to enter the market, particularly those who were waiting for prices to come down from record highs. However, uncertainty continues to hover over future trends as both local and global conditions remain volatile.
