Gold rates fall sharply across Pakistan on June 23

Gold prices recorded a significant drop in Pakistan following a major decline in international bullion markets. The sharp fall affected both gold and silver rates, attracting the attention of investors, traders, and buyers.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by Rs10,400, bringing it down to Rs432,236 from Rs442,636 in the previous trading session.

The price of 10 grams of 24-karat gold also decreased by Rs9,360 to Rs368,985 from Rs378,345. Meanwhile, the price of 10 grams of 22-karat gold dropped by Rs8,508 and settled at Rs338,575, compared with Rs347,083 a day earlier.

Silver prices also moved sharply lower in the local market. The per tola rate fell by Rs487 to Rs6,664 from Rs7,151, while the price of 10 grams of silver declined by Rs438 to Rs5,641 from Rs6,079.

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The downward trend was also visible in international markets. Global gold prices fell by $104 per ounce to $4,098 from $4,202, while silver prices dropped by $4.861 per ounce to $61.853 from $66.714.

Market analysts linked the decline to developments in global financial markets and changing investor sentiment. They said easing geopolitical tensions had reduced demand for safe-haven assets such as gold and silver.

Despite the recent fall, analysts believe precious metals remain attractive to investors seeking protection against inflation, currency depreciation, and economic uncertainty. Experts say future price movements will largely depend on global economic conditions, central bank decisions, and geopolitical developments, which continue to influence international commodity markets.