Gold prices in Pakistan witnessed a steep decline on Monday, bringing relief to buyers but concern to investors as rates dropped sharply across the country. The fall comes as the global gold market weakens and the Pakistani rupee shows strength against the U.S. dollar in interbank trading.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold decreased by Rs. 3,300 per tola, bringing the new rate to Rs. 430,362. Meanwhile, 10 grams of 24-karat gold were priced at Rs. 368,966 after a fall of Rs. 2,829. The 22-karat category also recorded a dip, selling for Rs. 338,231 per 10 grams.
Experts suggest that the decline is mainly due to reduced global demand and the strengthening of the U.S. dollar, which typically drives investors away from gold.
Easing geopolitical tensions have also played a role in cooling international bullion prices. On the world stage, gold was trading at $4,080 per ounce — a drop of $33 compared to the previous session.
Silver rates followed a similar trend in both local and international markets. In Pakistan, the 24-karat silver rate fell by Rs. 27, settling at Rs. 5,097 per tola, while 10 grams traded at Rs. 4,369, down Rs. 24. Globally, silver slipped slightly to $48.35 per ounce.
The APSGJA stated that the latest rates reflect interbank exchange values and 999-purity standards, which are used for all 24-karat gold calculations. Investors are now keeping a close eye on currency movements and international gold trends before making new investments.
