Karachi: Gold prices in Pakistan witnessed a sharp decline on Friday, falling below the Rs440,000 per tola mark as a steep downturn in international bullion markets triggered widespread selling pressure.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local price of gold per tola dropped by Rs14,900, settling at Rs438,036. The price of 10 grams of gold also decreased significantly, falling by Rs13,410 to Rs374,205.
In the international bullion market, gold prices declined sharply by $149 per ounce, bringing the rate down to $4,156. Analysts attributed the fall to a broad global sell-off in precious metals, which has also impacted domestic pricing trends in Pakistan.
Silver Prices Also Decline in Local Market
The downward trend extended to silver markets as well, with prices recording notable losses across both local and international trading.
According to APGJSA, the price of silver per tola in Pakistan fell by Rs413 to Rs6,946, while 10-gram silver declined by Rs373 to Rs5,895.
The drop in silver prices followed weakness in global bullion markets, where investor sentiment remained under pressure due to shifting economic expectations and profit-taking in commodity markets.
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Recent Volatility in Gold Prices
The latest decline comes after several days of fluctuating gold rates in Pakistan, reflecting instability in international markets.
On Thursday, gold prices had already fallen by Rs2,300 per tola in the local market after a dip in global rates. A day earlier, prices had shown a modest increase, with gold per tola reaching Rs455,236 after gaining Rs100.
Earlier in the week, the market experienced even sharper volatility. On Monday, gold prices surged by Rs10,800 per tola, reaching Rs455,136, driven by a rise in global demand. However, that upward momentum quickly reversed as international prices began to weaken.
Global Factors Driving the Decline
Market analysts link the recent drop in gold prices to a global sell-off in bullion assets, with investors opting to secure profits after a period of strong gains.
International gold prices, which had recently reached record highs above $4,300 per ounce, have come under pressure amid changing investor expectations and broader market corrections.
Silver has followed a similar pattern, reflecting increased volatility in precious metals markets worldwide.
Impact on Local Market Sentiment
In Pakistan, bullion prices are closely tied to international trends and exchange rate movements, making the local market highly sensitive to global fluctuations.
Jewellers and traders report cautious activity as buyers and investors wait for price stability before making major purchases.
Market observers say continued volatility in global commodities may keep gold prices under pressure in the short term, although long-term trends will depend on inflation data, interest rate policies, and global economic conditions.
Conclusion
The sharp decline in gold and silver prices highlights ongoing volatility in global commodity markets, with international sell-offs directly impacting Pakistan’s local bullion rates. As markets adjust to shifting global dynamics, traders expect continued price fluctuations in the coming days.
FAQs
Why did gold prices fall in Pakistan?
Gold prices dropped due to a sharp global sell-off in international bullion markets.
What is the new gold price per tola in Pakistan?
The price of gold per tola fell to Rs438,036 after a decrease of Rs14,900.
How much did silver prices decline?
Silver per tola dropped by Rs413, reaching Rs6,946 in the local market.
What caused the global decline in gold prices?
Analysts attribute it to profit-taking and shifting investor sentiment in international markets.
Are gold prices expected to remain volatile?
Yes, experts say prices may continue to fluctuate due to global economic uncertainty and changing interest rate expectations.
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