Gold prices in Pakistan dropped sharply on Thursday, with the price of 24-karat gold falling by Rs. 1,800 per tola, following a decline in international bullion markets.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of one tola of 24-karat gold has decreased to Rs. 432,036 after the latest reduction.
Similarly, the price of 10 grams of 24-karat gold fell by Rs. 1,543, bringing it down to Rs. 370,401.
The decline comes as international gold prices slipped by $18 per ounce to $4,096. Analysts attribute the drop to profit-taking by investors and improving sentiment in global financial markets, which reduced demand for safe-haven assets. Expectations surrounding global interest rate policies and the strength of the US dollar also continue to influence bullion prices.
Despite the latest decline, gold prices remain close to historic highs, reflecting persistent geopolitical uncertainty, central bank gold purchases, and inflation concerns that have supported the precious metal throughout the year.
Local gold prices in Pakistan are determined by international bullion rates and the rupee-dollar exchange rate, meaning any movement in global markets or the local currency can quickly impact domestic prices.
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