Gold prices fall sharply in Pakistan as global bullion market weakens

Gold prices continued to decline in both international and Pakistani markets, extending a downward trend driven by weakness in global bullion trading.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold in the local market fell by Rs2,100 per tola, bringing the new rate to Rs477,862. The price of 10 grams of gold also dropped by Rs1,801 to settle at Rs409,689.

Silver prices followed the same trend, with per tola rates decreasing by Rs65 to Rs7,849, while 10 grams of silver declined by Rs55 to Rs6,729.

In the international market, gold prices fell by $21 per ounce, taking the global rate down to around $4,555 per ounce. International spot gold also recorded losses during trading sessions.

The latest decline comes a day after gold prices in Pakistan dropped sharply by Rs3,800 per tola, highlighting continued volatility in precious metals trading.

Market analysts linked the bearish trend to a stronger US dollar and changing investor expectations amid geopolitical uncertainty in the Middle East. 

Pakistan’s gold market typically mirrors international price movements, with local rates adjusted according to the rupee-dollar exchange rate and import costs.