Gold prices in Pakistan continued their downward trend for the fourth straight day on Wednesday, mirroring losses in the global market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola decreased by Rs4,700, settling at Rs430,236. Similarly, the price of 10 grams of gold declined by Rs4,029, reaching Rs368,858.
International market declines
In the international bullion market, the price of gold fell by $47 per ounce, dropping to $4,078. This decline follows a $25 drop on Tuesday, when gold closed at $4,125 per ounce. The consecutive losses reflect ongoing uncertainty in global financial markets.
Silver prices also drop
Silver prices also witnessed a significant decline. The price of silver per tola fell by Rs138 to Rs6,421, while the price of 10 grams of silver decreased by Rs119 to Rs5,504. On Tuesday, silver had already fallen by Rs120 per tola to Rs6,559, and by Rs103 per 10 grams to Rs5,623.
Previous day's performance
On Tuesday, gold prices in Pakistan dropped by Rs2,500 per tola to Rs434,936, with 10-gram gold falling by Rs2,143 to Rs372,887. The international market saw a $25 per ounce decline, closing at $4,125.
Monday and weekend trends
On Monday, gold prices in Pakistan fell by Rs2,400 per tola, bringing the price to Rs437,436. The 10-gram rate stood at Rs375,030 after a decline of Rs2,058. Over the weekend, on Saturday, gold per tola closed at Rs439,836 after a Rs1,100 drop. According to the APGJSA, the consistent decline came as investors weighed mixed signals from the US economy.
