Gold Rates in Pakistan Plummet Amid Global Market Dip
The decline in gold prices has led to a decrease in the local market, with 24-karat gold prices falling by Rs2,500 per tola and 10 grams of 24-karat gold prices dropping by Rs2,143, bringing the price of 10-gram gold to Rs302,640. Silver prices have also decreased, with the price per tola dropping by Rs30 to Rs3,841.
Gold prices in Pakistan have dropped significantly, with per tola rates falling by thousands of rupees due to a decline in the international bullion market. The global rate of gold decreased by $25, reaching $3,310 per ounce, which directly impacted local rates in Pakistan.
The decline in gold prices was attributed to an uptick in the US dollar and investors awaiting details on the trade front ahead of US President Donald Trump's tariff negotiation deadline. As a result, 24-karat gold prices in Pakistan fell by Rs2,500 per tola, and 10 grams of 24-karat gold prices dropped by Rs2,143. The price of 10-gram gold reached Rs302,640 after a loss of Rs2,143.
In addition to gold, silver prices also decreased, with the price per tola dropping by Rs30 to Rs3,841. The international rate of gold decreased to $3,310 per ounce with a premium of $20, a loss of $25. The fluctuations in gold rates in Pakistan are closely tied to international market trends, and local gold markets and Sarafa Markets in various cities adjust their rates accordingly.
The decrease in gold prices may have a significant impact on the local market, and investors are advised to keep a close eye on the fluctuations in the international market. As the global economy continues to evolve, it is likely that gold rates in Pakistan will remain volatile, and local markets will continue to adjust their rates in response to international trends.