Gold price hovers near Rs430,000 per tola after sharp surge in Pakistan
The drop came as global bullion prices moved lower during the latest trading session. Market watchers are now closely monitoring whether this decline will continue in the coming days.
According to the latest figures, the international gold price fell by $14 per ounce and reached $4,100. The change in global rates quickly affected the local market as well.
Following the international decline, the price of 24-karat gold in Pakistan decreased by Rs1,400 per tola. As a result, the new price settled at Rs432,436 per tola.
The price of 10 grams of 24-karat gold also recorded a decline. It fell by Rs1,200 and reached Rs370,744.
While gold moved downward, silver prices showed a different trend. The price of one tola of silver increased by Rs11 and climbed to Rs6,432.
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The latest decrease comes only a day after gold recorded a strong jump in Pakistan. During the previous session, the price of gold had risen by Rs3,600 per tola to reach Rs433,836.
Similarly, the price of 10 grams of gold had increased by Rs3,086 and touched Rs371,944. At that time, silver prices remained unchanged at Rs6,421 per tola.
Gold prices in Pakistan usually follow movements in international markets. Changes in the value of the Pakistani rupee against the US dollar also play an important role in determining local rates.
Investors and buyers often keep a close eye on global economic developments. Even small changes in international bullion markets can quickly influence gold prices across Pakistan.
The latest decline has provided some relief to people planning to buy gold. However, frequent price swings show that the market remains uncertain and sensitive to global trends.
