In a surprising turn of events, the price of 24 karat gold has plummeted by Rs6,000 per tola in just five days, triggering widespread interest and speculation in the local bullion market. According to the All Pakistan Sarafa Gems and Jewelers Association, gold was sold at Rs357,000 per tola on Friday, down from Rs358,595 on the previous trading day—a Rs1,595 drop in a single day.
The decline in gold wasn’t a one-day affair. The week began with a Rs700 decrease on Monday, followed by Rs1,000 on Tuesday. The steepest fall came on Wednesday, with a drop of Rs2,245, and Thursday saw a Rs460 dip. The final blow came today with another Rs1,595 cut, completing a significant weeklong correction in the gold market.
The price of 10 grams of 24 karat gold also felt the heat, dropping by Rs1,368—from Rs307,437 to Rs306,069. Similarly, 10 grams of 22 karat gold slipped by Rs1,254, settling at Rs280,573, compared to the previous rate of Rs281,827.
Not only gold, but silver prices also took a hit this week. The price of per tola silver fell by Rs24, reaching Rs3,796, while 10 grams of silver dropped by Rs21, down to Rs3,254. These cuts reflect a broader shift in precious metals pricing, possibly linked to global trends and investor behavior.
Read more: Used car market set to boom in Pakistan – Shocking tax relief revealed!
The Rs6,000 per tola drop in gold prices has caught many traders and investors off guard. While temporary corrections are common in commodity markets, the speed and size of this fall suggest external pressures—possibly global gold rates, currency shifts, or economic uncertainty.
For buyers, this decline may be a golden opportunity to invest, while for sellers and jewelers, it raises concern over margins and demand volatility. If the trend continues, it could reshape consumer behavior, spark speculative buying, or encourage shifts to alternative investment assets like silver or real estate.
