After days of climbing to record-breaking heights, gold prices in Pakistan have finally taken a breather. On Saturday, the precious metal saw a sharp decline that brought some relief to potential buyers who had been watching prices soar beyond reach.
According to market reports, the price of gold per tola dropped significantly by Rs. 10,600, bringing it down to Rs. 446,300.
For those who prefer buying gold by weight, 10 grams of the yellow metal fell by Rs. 9,088, now sitting at Rs. 382,630. While these are still hefty prices, the decrease is substantial enough to make a real difference for buyers.
This downward correction isn’t just happening in Pakistan. International gold markets also experienced a pullback, with prices dropping by $106 to settle at $4,252 per ounce.
Since Pakistani gold prices closely follow global trends, the international decline naturally affected local rates as well.
What makes this drop particularly noteworthy is the timing. Just earlier this week, gold prices had surged by over Rs. 14,000 per tola, causing shock waves through the market and pushing prices to unprecedented levels. Many people were left wondering if gold would ever become affordable again.
This sudden decrease shows just how volatile the gold market can be. Prices can shoot up dramatically one day and drop significantly the next, influenced by global economic conditions, currency fluctuations, and investor sentiment.
For anyone planning to buy gold jewelry or invest in the precious metal, these price swings can be both frustrating and opportunistic.
