Gold prices in Pakistan experienced a downward shift on Saturday, following two consecutive days of gains. The price of one tola of gold fell by Rs1,300, closing at Rs213,200, according to data from the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA).
The price of 10 grams of 24-carat gold also saw a decrease, falling by Rs1,115 to settle at Rs167,553. This trend was not limited to the domestic market; international gold prices also declined, with the precious commodity’s price dropping by $4 to close at $1,955 per ounce.
Despite the fluctuation in gold prices, the cost of silver remained steady. The price of one tola and 10 grams of silver stayed constant at Rs2,480 and Rs2,126.20, respectively.
The gold rate in Pakistan is known to fluctuate in line with the international market, meaning that prices are never fixed. These rates are provided by local gold markets and Sarafa Markets across various cities. On Saturday, the price of a single tola of 24-karat gold in cities like Lahore, Karachi, Nowshehra, Sargodha, Faisalabad, Mirpur, Islamabad, Peshawar, Quetta, Sialkot, Attock, Gujranwala, Jehlum, Multan, Bahawalpur, Gujrat, Nawabshah, Chakwal, and Hyderabad was recorded at Rs212,900.
As the global and domestic economic conditions continue to evolve, investors and consumers alike will be keeping a close eye on these fluctuations in gold prices and foreign exchange rates.
