Summary Gold and silver prices fell sharply in Pakistan on Thursday, with 24-karat gold losing Rs3,800 per tola as international bullion prices also declined.
KARACHI (Dunya News) - Gold and silver prices recorded a significant decline in Pakistan on Thursday, tracking a fall in precious metal prices in the international market.
According to rates reported from the country’s bullion markets, the price of 24-karat gold fell by Rs3,800 per tola to settle at Rs453,436.
The price of 10 grams of 24-karat gold also decreased by Rs3,257, bringing the new rate to Rs388,749.
Silver followed the downward trend, with the price of 24-karat silver declining by Rs73 per tola to Rs6,869.
The decline in domestic bullion prices came alongside a fall in the international gold market.
Gold dropped by $38 per ounce internationally, bringing its reported price to $4,309 per ounce.
Domestic gold prices are influenced by movements in international bullion markets as well as the rupee-dollar exchange rate. Changes in either factor can affect local prices even when the other remains relatively stable.
The latest decline offers some relief to domestic buyers after elevated precious-metal prices had made jewellery and bullion increasingly expensive.
Gold remains closely watched in Pakistan both as a jewellery commodity and as a store of value, particularly during periods of economic and financial uncertainty.
