Gold Prices Fall After Several Days of Gains; New Rates Announced
KARACHI: Gold prices in Pakistan declined after several consecutive days of increases, with new rates for one tola and 10 grams of gold announced across the country.
According to the All Pakistan Gems and Jewellers Association, the price of gold fell by Rs600 per tola, bringing the new rate to Rs486,536 per tola.
The price of 10 grams of gold also decreased by Rs514, with the precious metal now selling at Rs417,126.
Gold prices also declined in the international market, where the price fell to $4,640 per ounce. Changes in international gold prices directly influence rates in Pakistan’s local bullion markets, resulting in frequent fluctuations.
A day earlier, gold had recorded a significant increase of Rs4,200 per tola, reaching Rs487,136. Similarly, the price of 10 grams had risen by Rs3,601 to Rs417,640.
Despite the latest decline, gold prices remain at a high level. Market analysts expect further fluctuations in the coming days depending on international price trends as well as local demand and supply conditions.
