Gold Prices Dip in Pakistan, Remain Above Rs. 5 Lakh Per Tola

Recently, Gold prices in Pakistan experienced a notable decline on Thursday, aligning with a broader downturn observed in the international market. This shift offers a momentary reprieve for buyers, though rates remain significantly high, illustrating the precious metal’s enduring value.

Local Market Sees Price Adjustments

In Pakistan’s local market, the price of gold per tola fell by Rs. 800. Consequently, the new rate settled at Rs. 505,562. Similarly, the price for 10-gram gold also dropped by Rs. 686, bringing its value to Rs. 433,437. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) released these latest figures, providing essential insights for investors and consumers.

International Market Influences Gold Rates

The international gold market significantly impacts local prices. On Thursday, global gold prices slipped by $8, reaching $4,832 per ounce. This figure notably includes a premium of $20. Earlier in the week, on Wednesday, gold had surged impressively, with the per tola rate jumping by a substantial Rs. 12,700, touching Rs. 506,362. However, this recent dip reflects dynamic market forces at play.

Silver Prices Pakistan Also Decline

Furthermore, the domestic market also witnessed a decrease in silver prices. The per tola rate for silver declined by Rs. 30, setting the new price at Rs. 9,903. This parallel movement often occurs as both precious metals react to similar economic indicators and market sentiments.

For more detailed analysis and real-time updates on gold rate per tola and other precious metal trends, stay tuned to Next Generation Pakistan.