KARACHI: The gold prices across Pakistan declined again on Saturday after witnessing a recent increase, with the per tola rate recording a significant drop of Rs4, 700.
According to the All Pakistan Gems and Jewellers Association(APGJA), the price of gold per tola fell by Rs900 to settle at Rs455, 562 in the local market.
Similarly, the price of 10 grams of gold decreased by Rs4, 030, bringing it down to Rs390, 570.
On the international market, gold prices also saw a notable decline, falling by $47 to reach $4,332 per ounce.
Meanwhile, silver prices followed the downward trend, with the per tola rate dropping by Rs106 to Rs7,756.
Market analysts attribute the decline to fluctuations in global bullion prices and changing investor sentiment.
Earlier, after a brief decline, gold prices have recorded a sharp increase across Pakistan, driven by a strong rebound in the international bullion market.
According to traders in the local bullion markets, the price of gold per tola rose by Rs 5,700, reaching Rs 460,262. Similarly, the price of 10 grams of gold increased by Rs 4,887, taking it to Rs 394,600.
The significant rise comes amid an upswing in global gold prices. In the international market, gold prices climbed by $57 per ounce to settle at $4,379.
It is worth noting that a day earlier, gold prices in the international bullion market had fallen by $24 per ounce to $4,322, which led to a corresponding decline in local markets. As a result, the price of 24-karat gold per tola had dropped by Rs 2,400 to Rs 454,562.
The latest surge reflects the volatility of the global precious metals market and its direct impact on domestic gold prices.
