Gold Price in Pakistan Drops Rs3,000 to Rs438,636 Per Tola
KARACHI, PAKISTAN — WEB DESK: Gold prices fell again in Pakistan on Thursday, with the price of the precious metal dropping Rs3,000 per tola as bullion rates declined in the international market.
Following the latest decrease, the price of gold fell to Rs438,636 per tola, compared with Rs441,636 in the previous session.
The price of 10 grams of gold declined by Rs2,572, bringing the new rate down to Rs376,059.
The domestic decline followed weakness in the international bullion market, where gold dropped $30 per ounce to settle at $4,161 per ounce.
The latest fall came just a day after gold prices had moved sharply higher in Pakistan. On Wednesday, the price increased by Rs4,300 per tola to Rs441,636, while 10-gram gold rose by Rs3,686 to Rs378,631.
Despite Thursday’s Rs3,000 decline, gold remains above the Rs438,000-per-tola level as investors continue to track movements in international bullion markets and other global economic developments.
Silver prices also moved lower on Thursday.
In the international market, silver declined by $0.50 per ounce to $60.50.
The domestic price of silver consequently dropped Rs50 per tola to Rs6,528, while the price of 10 grams of silver fell by Rs43 to Rs5,596.
Gold and silver prices in Pakistan remain sensitive to movements in international bullion markets as well as changes in the rupee-dollar exchange rate and domestic market conditions.
The latest decline follows a volatile period for precious metals, with Pakistani gold prices recording several sharp increases and decreases during September.
Investors and jewellery buyers will continue to monitor international bullion prices for indications of the next move in domestic gold rates.
