Gold prices in Pakistan recorded a major decline on Friday after international markets experienced a sharp drop in precious metal prices.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola fell by Rs. 15,500, bringing the new rate to Rs. 476,862. Similarly, the price of 10 grams of gold dropped by Rs. 13,289 and settled at Rs. 408,832.
The decrease came only a day after gold prices had reached a much higher level of Rs. 492,362 per tola. The sudden movement reflects ongoing fluctuations in both local and international bullion markets.
Reports also showed a sharp decline in global gold prices, where the value of gold dropped by $155 per ounce. Market analysts believe changing investor sentiment, movements in international financial markets, and global economic uncertainty may have influenced the decline.
Silver prices also moved downward. The price of silver in Pakistan fell by Rs. 972 and settled at Rs. 8,232. The decline indicates broader volatility across precious metals rather than changes affecting only gold.
Experts say gold and silver prices often react to international developments, including inflation trends, interest rates, currency movements, and geopolitical events. Because Pakistan largely follows global market patterns for precious metals, international price changes quickly affect local rates.
Jewellers and traders believe continued fluctuations may influence buying activity, especially among people purchasing gold for savings, investment, or weddings.
Financial analysts say precious metal prices could remain unstable in the coming weeks depending on international economic conditions and investor demand. Consumers are advised to monitor market trends closely before making major purchasing decisions.
