By ABDULLAH 
The gold market in Pakistan has witnessed another significant decline, offering some relief to buyers after prices hit record highs earlier this month.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola dropped by Rs. 1,400, bringing it down to Rs. 355,200 from the previous day’s rate of Rs. 356,600.
Similarly, the price of 10 grams of 24-karat gold fell by Rs. 1,201 to Rs. 304,526, compared to Rs. 305,727 a day earlier. Meanwhile, 22-karat gold saw a decrease of Rs. 1,101 per 10 grams, now standing at Rs. 279,158.
The downward trend was not limited to gold. The APSGJA reported that silver prices per tola dropped by Rs. 96, now being traded at Rs. 3,935. The rate for 10 grams of silver also slipped by Rs. 82, closing at Rs. 3,373.
The fall in local prices is closely tied to developments in the international market. Globally, gold prices fell by $14 per ounce, reaching $3,325 compared to the previous $3,339. Silver also recorded a notable dip, dropping by $0.96 to $37.02 per ounce.
While gold remains one of the most stable investment options, its price in Pakistan is heavily influenced by international market fluctuations and the local currency’s exchange rate against the US dollar. Experts suggest that prices may continue to show volatility in the coming days as global demand and geopolitical conditions evolve.