Gold prices fell sharply in Pakistan as the market reacted to a major decline in global rates. The sudden drop triggered strong interest from investors and buyers. However, the scale of the fall raised fresh concerns across the bullion market. Many traders noted that the change arrived faster than expected, creating uncertainty among stakeholders.
Local Gold Market Records Major Fall
Gold prices experienced a significant reduction on the last business day of the week. The rate per tola fell by Rs9,100, which pushed the new price down to Rs430,662. This sharp decline surprised many local traders. Although fluctuations are common, such a steep drop is rare. Therefore, buyers watched the development closely.
Similarly, the price of ten grams of gold also dropped. It decreased by Rs7,799, bringing the new price to Rs369,223. This decline further highlighted the pressure on the local market. Many analysts linked the fall to global trends. However, they also noted that local conditions contributed to the magnitude of the drop.
Global Market Experiences a Steep Slide
The international market also witnessed a major shift. Gold prices fell by $91 per ounce, bringing the new global price to $4,083. This reduction created ripple effects across regional markets. Because Pakistan closely tracks global rates, the impact reached local buyers immediately. As a result, traders adjusted domestic prices without delay.
Analysts believe that global economic movements played a key role. Although gold often acts as a safe asset, sudden dips can occur. Therefore, investors remained alert throughout the day.
Silver Prices Decline Alongside Gold
Silver did not escape the downward trend. The price per tola decreased by Rs209, setting the new rate at Rs5,313. This decline followed the same pattern seen in gold. However, the drop in silver remained far smaller in comparison. Although the decrease was modest, it still reflected broader market pressures.
Because both gold and silver dropped together, investors reviewed their positions. Some saw the change as an opportunity. Others viewed the shift as a sign of continuing volatility.
Market Sentiment Turns Cautious
The sharp drop created notable caution across the bullion sector. Traders monitored global movements closely. Buyers also reconsidered their plans due to the sudden price shift. Although lower prices may attract fresh demand, uncertainty still surrounds the market outlook.
Many market participants now wait for the next global update. Because the international market remains unstable, the situation may shift again. Therefore, buyers and sellers continue watching the evolving trend.
