Gold Prices in Pakistan Plunge by Rs10,700 per Tola Amid Global Market Decline

Gold prices in Pakistan experienced a sharp decline on Tuesday, continuing a downward trend influenced by significant drops in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs. 10,700, closing at Rs. 459,462. Similarly, the cost of 10 grams of gold decreased by Rs. 9,174, settling at Rs. 393,914.

This decline follows Monday’s fall, when the price per tola had already dropped by Rs. 5,500 to Rs. 470,162. The local market’s movement closely mirrored international trends, where gold prices dropped by $107 per ounce, bringing the rate to $4,371, including a $20 premium.

Silver prices also declined, with the per tola rate falling by Rs. 145 to Rs. 7,930. Analysts attribute the sharp corrections to stronger global economic data, rising U.S. interest rates, and a stronger dollar, which typically reduce demand for precious metals. The recent falls have created volatility in the domestic market, affecting both investors and jewelers who closely track international movements.

Market observers suggest that buyers may adopt a wait-and-watch approach in the short term, while investors consider long-term trends in gold and silver before making substantial purchases.