Gold rate in Pakistan on April 5 drop by Rs. 5,500 per tola in Pakistan

Gold prices in Pakistan saw a significant drop on Saturday, following a decline in the international market. According to data released by the All Pakistan Sarafa Gems and Jewelers Association (APSGJA), the price of 24-karat gold per tola fell by Rs. 5,500, settling at Rs. 320,000. Meanwhile, the price of 10 grams of 24-karat gold dropped by Rs. 4,714, reaching Rs. 274,348.

22-Karat Gold Prices Also Fall

The price of 10 grams of 22-karat gold decreased by Rs. 4,322, bringing the new rate to Rs. 251,494. This decline reflects the impact of global trends on the local bullion market.

International Gold Prices Decline

On the international front, gold prices per ounce dropped by $51, now standing at $3,038. The decrease in international gold rates has directly influenced local prices, leading to a notable dip in Pakistan’s gold market.

Silver Prices Drop in Local and Global Markets

Silver prices also experienced a decline in both local and global markets. The price of 24-karat silver per tola in Pakistan fell by Rs. 460 to Rs. 3,120, while the price of 10 grams of 24-karat silver dropped by Rs. 395, reaching Rs. 2,674. In the international market, silver rates declined by $4.5 per ounce, standing at $29.59.

Gold Market Resumes Trading After Eid-ul-Fitr

Following the Eid-ul-Fitr holidays, the local gold market resumed trading at record-high rates, with gold priced at Rs. 325,500 per tola and Rs. 279,063 per 10 grams.

Global Gold Prices Reach Historic Highs

Despite the recent decline, gold prices in the international market surged to new historic highs on Thursday, nearing the $3,100 per ounce mark. This fluctuation highlights the volatility in the global gold market, affecting local gold rates in Pakistan.