Gold Prices Drop by Rs4,300 per Tola in Pakistan

Gold prices in Pakistan fell sharply on Tuesday, following a decline in international gold prices. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold dropped by Rs4,300 per tola to Rs427,436. The price was Rs431,736 per tola in the previous session.

The price of 10 grams of 24-karat gold also decreased by Rs3,687, reaching Rs366,457. Meanwhile, 10 grams of 22-karat gold fell by Rs3,380 to Rs335,931.

In the international market, gold prices declined by $43 to $4,050 per ounce. The fall in global gold prices also affected the local bullion market in Pakistan.

Silver prices also moved lower during the day. The price of 24-karat silver decreased by Rs174 per tola to Rs6,223. Similarly, the price of 10 grams of silver fell by Rs149 to Rs5,335.

International silver prices also declined by $1.74, reaching $57.44 per ounce.

The Karachi bullion market is considered the main benchmark for gold and silver prices across Pakistan. Local prices are generally determined by international bullion rates and the interbank exchange rate.

The latest decline in gold and silver prices reflects the impact of weaker international bullion prices on the domestic market.