Big buyer relief as gold prices in Pakistan register a massive decline

The sudden price change surprised local buyers who were closely tracking bullion trends.

Local Bullion Rates Fall

According to official rates released by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), 24-karat gold dropped by Rs5,600 to settle at Rs448,336 per tola. Meanwhile, the cost of 24-karat gold per 10-gram fell by Rs4,801 to reach Rs384,375.

Silver Prices Also Drop

Domestic silver prices followed a similar downward path across local trading centers. The rate for 24-karat silver fell by Rs171 to sell at Rs6,837 per tola, while 10-gram silver dropped by Rs147 to reach Rs5,861.

International Drivers at Play

On the global stage, spot gold traded around $4,250 per ounce after losing $38.7 or 0.90% during the session. Expectation of tighter policies from the US Federal Reserve weighed heavily on precious metals, though lower crude oil costs helped cushion the drop.

This price drop offers short-term financial relief to citizens planning purchases for upcoming events. If international market pressure continues, domestic precious metal rates may experience further volatility in the days ahead.

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