Local Market Records Sharp Decline
Gold prices in Pakistan witnessed a major fall on Thursday as the local market followed the downward trend in the international bullion market.
According to rates issued by the All-Pakistan Gems and Jewelers Association, the price of gold for the traditional 11.66-gram unit dropped by Rs9,720. It settled at Rs432,716 in the local market.
The price of 10 grams of gold also declined sharply. It fell by Rs8,748 and reached Rs369,422.
The latest fall came just a day after gold prices had already recorded a steep decline. On Wednesday, the price had dropped by Rs12,627 to settle at Rs442,436.
This means gold has lost Rs22,347 in just two days, marking one of the sharpest short-term declines in the domestic market.
International Prices Drive Local Losses
The fall in local prices was linked to a decline in the international market.
Global gold prices dropped by $97 per ounce and reached $4,102. This rate included a premium of $20, according to the market update.
Gold prices in Pakistan usually move in line with international rates. Currency movement and local demand can also affect final market prices.
The sudden decline may bring some relief for buyers who had been facing record-high prices in recent weeks. However, market uncertainty remains high because global bullion prices continue to react to economic and geopolitical developments.
Investors often turn to gold during periods of uncertainty. But when global prices correct, local markets also feel the impact quickly.
Silver Prices Also Move Lower
Silver prices also declined in the domestic market on Thursday.
The price of silver for the traditional 11.66-gram unit fell by Rs40 and settled at Rs6,889.
The decline in both gold and silver shows broader weakness in precious metal trading during the latest session.
Jewellers and buyers are now watching whether the downward trend continues or prices rebound in the coming days.
For ordinary consumers, the fall may improve buying opportunities for jewellery and investment purposes. However, many buyers may still wait for further stability before making large purchases.
Gold remains one of the most closely followed commodities in Pakistan. It is widely used for jewellery, savings and long-term investment.
The latest two-day fall has now become a key market development, especially after weeks of pressure from rising international rates and high local prices.
