Gold Prices in Pakistan Drop Sharply, 24-Karat Falls Rs. 10,800 Per Tola

Gold prices in Pakistan dropped sharply on Saturday, with 24-karat gold falling by Rs. 10,800 per tola to settle at Rs. 409,736, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The decline tracked a notable fall in international gold prices.

The price of 10 grams of 24-karat gold also declined by Rs. 9,259 to Rs. 351,282. Silver became cheaper as well, with its price dropping by Rs. 142 to Rs. 5,388 per tola, the association's data showed.

Saturday's fall followed a Rs. 5,100 per tola drop on Friday, after prices had held steady at Rs. 425,636 per tola on Thursday. In total, gold has lost Rs. 15,900 per tola over two trading days, equivalent to roughly a 2.6 percent single-day decline on Saturday alone.

The local movement mirrored the global market, where the international price of gold fell by $108 to $3,872 per ounce, moving further below the $4,000 level it slipped under on Friday. The international rate declined by a similar 2.7 percent.

At current rates, gold is now Rs. 32,300 per tola, or about 7.3 percent, below its October 10 peak of Rs. 442,036. A buyer purchasing two tolas today would pay roughly Rs. 64,600 less than at that peak. These figures apply to pure 24-karat gold; jewellery buyers also pay making charges, so the final shop bill will be higher.

For households holding gold as savings, the decline works in the opposite direction, with the value of two tolas falling by about Rs. 31,800 on paper since Thursday. The per tola rate now stands only Rs. 9,736 above the Rs. 400,000 mark, a threshold that market observers had flagged as a possibility earlier this week.