Gold Prices Fall by Rs500 in Pakistan Amid Global Market Decline

Gold prices in Pakistan experienced a slight decrease on Tuesday, with the 24-karat gold per tola price dropping by Rs500, bringing it to Rs283,200, according to the latest data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The price for 10 grams of 24-karat gold also saw a reduction of Rs429, now standing at Rs242,798.

This downward trend mirrors a minor decline in the international market, where gold prices decreased by $5 per ounce, settling at $2,736. The international price includes an additional $20 premium, reflecting shifts in demand and global economic indicators.

Despite the drop in gold prices, silver remained steady in the Pakistani market, with the price of silver per tola fixed at Rs3,430. Analysts attribute the stability in silver prices to consistent demand and less volatility compared to gold.

Investors and consumers in Pakistan have been closely watching gold prices, especially amidst recent market fluctuations. A stable or slightly lower gold price is seen by some as an opportunity to invest, while others are cautious about potential further declines.