Gold prices in Pakistan continued their sharp decline on Thursday, marking the fifth consecutive session of losses as local rates followed another drop in international gold prices.
According to rates issued by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold fell by Rs. 5,600 per tola, bringing the latest rate down to Rs. 448,336 per tola.
The decline also affected the 10-gram gold rate. The price of 10 grams of 24-karat gold settled at Rs. 384,375, reflecting a decrease of Rs. 4,801.
The latest fall follows another reduction recorded on Wednesday, when gold lost Rs. 1,800 per tola and closed at Rs. 453,936. The consecutive declines have pushed the local gold market significantly lower from its recent levels.
The movement in Pakistan has largely mirrored the international market, where gold prices also recorded a substantial decline.
International gold prices dropped by $56 per ounce, reaching approximately $4,258 per ounce. The international decline was reflected in domestic bullion rates as traders adjusted prices in line with global market movements.
The continued decline comes after a period of elevated gold prices, during which investors closely monitored global economic conditions, financial markets and geopolitical developments.
Gold is traditionally viewed as a safe-haven asset, meaning demand can increase when investors are concerned about economic or geopolitical uncertainty. However, changes in market expectations can also trigger significant price movements in either direction.
For buyers in Pakistan, the latest reduction means the cost of purchasing gold has become lower compared with the previous day’s rate. However, jewellery prices can differ from official bullion rates because retailers may add making charges, taxes and other costs.
The fall in gold prices was not limited to the yellow metal. Silver also recorded a decline in Pakistan’s local market on Thursday.
According to the latest rates, silver fell by Rs. 171 per tola, settling at Rs. 6,837 per tola. The international silver price also decreased, dropping by $1.71 to around $63.59 per ounce.
The continuing decline in precious-metal prices is likely to remain a key point of interest for investors, jewelers and consumers considering purchases in Pakistan.
Market participants will continue watching international bullion prices as well as currency movements and broader economic developments for clues about the direction of local gold rates.
For now, the latest figures show that Pakistan’s gold market remains under downward pressure, with the 24-karat price falling for the fifth straight day and moving below the Rs. 450,000-per-tola level.
Consumers and investors should keep in mind that gold rates can change during trading periods as international prices and currency conditions shift. The official daily rates released by the relevant industry association provide the reference point for the local market.
