Gold prices in Pakistan declined on Saturday, while silver prices moved higher in the local market, showing mixed trends across precious metals.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold dropped by Rs500 per tola.
Following the latest decline, the price of 24-karat gold reached Rs459,936 per tola in the domestic market.
Gold Prices Record a Fresh Decline
The downward movement was also reflected in the price of 24-karat gold for 10 grams, which fell by Rs429. As a result, the 10-gram price of 24-karat gold settled at Rs394,320, according to the association.
Meanwhile, the price of 22-karat gold also declined during the day, adding to the downward movement in local gold rates. The price of 22-karat gold for 10 grams decreased by Rs393 and reached Rs361,473.
Gold also recorded a slight decline in the international market, where prices fell by $5 to $4,375 per ounce.
Silver Moves Higher Despite Gold’s Decline
Unlike gold, silver prices moved upward in Pakistan during Saturday’s trading session. The price of 24-karat silver increased by Rs13 per tola, bringing its latest rate to Rs6,949 per tola.
Similarly, the price of 24-karat silver for 10 grams rose by Rs11 and reached Rs5,957.
International silver prices also recorded a modest increase during the session, reaching $64.70 per ounce. The international rate represented a gain of $0.13, keeping silver on a slightly stronger footing than gold.
Interbank Rates Used for Gold Pricing
The All Pakistan Sarafa Gems and Jewellers Association said the latest gold rates were calculated using interbank exchange rates.
The association also confirmed that the purity level used for 24-karat gold stood at 999.1. Therefore, Saturday’s bullion market showed contrasting movements, with gold prices declining while silver rates continued to gain.
For local buyers, the latest figures place 24-karat gold at Rs459,936 per tola, while silver stands at Rs6,949 per tola.
