Local Gold Market Records Sudden Decline
Gold prices dropped in Pakistan on Saturday after recording a major increase a day earlier.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of gold per tola fell by Rs1,100.
After the latest decline, gold settled at Rs439,836 per tola.
The price of 10 grams of gold also decreased. It fell by Rs943 and reached Rs377,088.
The decline came after a strong rise on Friday, when gold prices jumped by Rs12,200 per tola.
On Friday, gold had closed at Rs440,936 per tola.
The latest fall has pushed the local gold rate below the Rs440,000 mark again.
International Gold Prices Also Move Lower
The decline in Pakistan followed a small decrease in the international bullion market.
Global gold prices dropped by $11 during the sixth trading session of the week.
After the decline, the international gold rate settled at $4,174 per ounce.
Local gold prices usually follow movements in the global market.
Exchange rate trends, international demand, investor sentiment, and market uncertainty also affect domestic rates.
Gold remains one of the most closely watched commodities in Pakistan. Investors often track it as a hedge against inflation and currency pressure.
Silver Prices Also Decline
Silver also recorded a decrease on Saturday.
The price of silver fell by Rs48 and settled at Rs6,716 per tola.
The drop in both gold and silver shows pressure in the precious metals market during the latest session.
Jewellers and investors are expected to monitor global trends closely in the coming days.
The sudden decline may offer limited relief to buyers. However, prices remain historically high.
Market experts say gold rates can remain volatile because of international economic uncertainty, currency movement, and changing demand.
For now, Pakistan’s bullion market has witnessed a correction after Friday’s major price surge.
