Gold Price in Pakistan Plunges Rs15,100 to Rs467,936 Per Tola
KARACHI, PAKISTAN — WEB DESK: Gold prices in Pakistan recorded a steep decline on Saturday, August 29, with the price of the precious metal falling by Rs15,100 per tola as international bullion rates also moved sharply lower.
According to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold fell to Rs467,936 per tola, compared with Rs483,036 in the previous session.
The price of 10 grams of gold also declined substantially, falling by about Rs12,946 to Rs401,179. The Express Tribune reports the closing figure as Rs401,178, while Business Recorder, citing APGJSA rates, gives Rs401,179 — a difference of just one rupee that appears to reflect rounding.
International Gold Drops $151 an Ounce
The sharp decline in Pakistan followed a major fall in the international bullion market.
International gold dropped by $151 per ounce to $4,454, including the premium used in the APGJSA-linked domestic quotation.
That represents a decline of roughly 3.3% from Friday’s quoted international rate of $4,605 per ounce.
Pakistan’s per-tola rate similarly fell by about 3.1% in a single session, highlighting the scale of Saturday’s adjustment.
The local gold market had been stable on Friday, when 24-karat gold remained unchanged at Rs483,036 per tola, while the 10-gram rate stood at Rs414,125. International gold was also quoted unchanged at $4,605 an ounce.
Silver Price Also Falls Sharply
Silver followed gold lower on Saturday.
According to APGJSA figures, the price of silver declined by Rs397 per tola to Rs7,112.
The Express Tribune reported that the price of 10 grams of silver fell by Rs340 to Rs6,096.
The decline marks a sharp reversal from Friday, when silver had risen by Rs180 to Rs7,509 per tola.
Gold Loses Rs19,200 From Monday’s Level
Saturday’s decline extends a volatile week for Pakistan’s bullion market.
On Monday, August 24, 24-karat gold had risen by Rs4,200 to Rs487,136 per tola, while 10 grams were quoted at Rs417,640.
Gold then fell by Rs600 on Tuesday to Rs486,536 per tola. The market remained closed on Wednesday because of the Eid Milad-un-Nabi public holiday.
On Thursday, the price dropped another Rs3,500 to Rs483,036 per tola, before remaining unchanged on Friday.
Saturday’s Rs15,100 plunge brought gold down to Rs467,936.
That means the metal has lost Rs19,200 per tola, or about 3.9%, compared with Monday’s Rs487,136 level.
Recent Rally Reverses
The latest move also reverses part of the strong gains recorded earlier in August.
On August 22, gold had climbed Rs5,700 to Rs482,936 per tola, marking its third consecutive session of gains at the time. International gold had risen to $4,604 per ounce.
The market subsequently reached Rs487,136 on Monday before beginning its latest retreat.
Despite Saturday’s steep fall, day-to-day precious-metal prices can remain highly volatile and are influenced by movements in international bullion, currency conditions and domestic pricing adjustments.
The latest APGJSA quotation should therefore be treated as the August 29 market rate, rather than a guaranteed retail price for every jewellery transaction.
Jewellers may charge additional amounts for workmanship, design, purity and other retail costs.
Gold and Silver Rates — August 29
| Precious Metal | Latest Price | Daily Change |
|---|---|---|
| Gold per tola | Rs467,936 | −Rs15,100 |
| Gold per 10 grams | Rs401,179* | −Rs12,946 |
| International gold | $4,454/oz | −$151 |
| Silver per tola | Rs7,112 | −Rs397 |
| Silver per 10 grams | Rs6,096 | −Rs340 |
*Business Recorder reports Rs401,179, while The Express Tribune reports Rs401,178. The one-rupee discrepancy appears to be a rounding difference.
The sharp Saturday decline will be closely watched by bullion traders and jewellery buyers after several weeks of sizeable swings in both domestic and international precious-metal markets.
