Gold and silver prices fall sharply as Pakistani buyers get major relief

The decline in international bullion prices has also affected the local jewellery market. Both gold and silver became cheaper, making purchases slightly more affordable for consumers.

According to the All Pakistan Sarafa Jewellers Association, the price of one tola of gold dropped by Rs4,300 to Rs427,436. The price of 10 grams of gold also fell by Rs3,687, reaching Rs366,457.

Silver prices also recorded a noticeable decline in the local market. One tola of silver became cheaper by Rs174 and is now priced at Rs6,223, while 10 grams of silver fell by Rs149 to Rs5,335.

The fall came after gold prices weakened in the international bullion market. The price of gold per ounce declined by $43 and settled at around $4,050, which directly influenced local prices.

Market experts say gold is expected to trade in a narrow range between $4,000 and $4,150 per ounce in the near term. Investors are closely watching the upcoming US Federal Reserve interest rate decision and developments in US-Iran relations.

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Higher interest rate expectations are putting pressure on gold prices. However, demand for gold as a safe-haven investment is helping prevent a sharper decline.

Gold prices may remain volatile until major global events become clearer. Buyers could benefit if prices stay lower, while investors will continue to monitor international economic and political developments.