Gold and Silver Prices Decline in Pakistan as Sarafa Market Issues Fresh Rates
KARACHI: Gold and silver prices fell in Pakistan’s local bullion market, with the price of gold declining by Rs3,000 per tola to Rs437,836, according to the latest rates released by the All Pakistan Sarafa Association.
The decline came after a one-day pause in the downward trend. Silver prices also dropped, while gold in the international market fell by $30 per ounce.
New Gold Prices in Pakistan
According to the Sarafa Association, the price of 24-karat gold decreased by Rs3,000 per tola, bringing the new rate to Rs437,836.
Similarly, the price of 10 grams of gold fell by Rs2,572 to Rs375,373.
The reduction has provided some relief to consumers planning to purchase gold jewellery. However, jewellery-making charges and other shop-specific costs may be added to the final purchase price.
International Gold Prices Also Fall
Gold prices in the international market also recorded a decline. The price of gold dropped by $30 per ounce to $4,153.
Fluctuations in international gold prices influence Pakistan’s local bullion market, although domestic rates are also affected by other market factors.
Silver Prices Drop by Rs172 per Tola
Silver prices also declined in the local market. The price of silver fell by Rs172 per tola to Rs6,360.
The latest reductions in gold and silver prices reflect a downward movement in both precious metals in local trading, offering some relief to buyers following the previous rates.
