KARACHI: Gold prices in Pakistan witnessed a modest decline on Saturday, with the rate of 24-karat gold falling by Rs300 per tola, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). The decrease comes amid stable international markets and cautious investor sentiment.
The new price for 24K gold now stands at Rs362,400 per tola, reflecting a minor correction in the domestic bullion market. The price for 10 grams of 24K gold also slipped by Rs257, bringing it down to Rs310,699, while 1 gram of gold is now priced at Rs28,481, down Rs236 from the previous day.
Silver Prices Follow Gold’s Lead
Silver also followed a similar downward trend. The price of 24-karat silver dropped by Rs9 per tola, settling at Rs4,064. The 10-gram rate decreased by Rs7 to Rs3,484. On the international front, silver edged down by $0.09 to $38.31 per ounce.
Global and Local Market Context
Internationally, gold prices remained steady, inching up slightly by $3 to $3,397 per ounce. The minor fluctuations in Pakistan’s precious metal prices reflect a broader trend of cautious consolidation in the global bullion market, influenced by economic uncertainty, fluctuating currency exchange rates, and investor hesitation amid speculation about upcoming interest rate policies.
Market analysts believe these small declines signal short-term corrections rather than a significant downward trend, suggesting that investors are adopting a wait-and-see approach ahead of key economic indicators due later this month.
