Gold Prices Plunge in Pakistan as International Rates Slide

Gold prices in Pakistan recorded a steep decline on Thursday, with the 24-karat rate falling by Rs. 10,900 per tola to settle at Rs. 416,536, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The association reported that the price of 10 grams of gold also dropped by Rs. 9,345, bringing it to Rs. 357,112. The latest slide follows a decrease of Rs. 3,400 per tola on Wednesday, when the metal had traded at Rs. 427,436.

The local market movement mirrored trends in the international market, where gold prices fell by $109 to $3,940 per ounce. Pakistan's bullion rates are closely tied to global benchmarks, and shifts in the international market typically feed directly into domestic pricing.

Silver also came under pressure, with its price declining by Rs. 190 per tola to reach Rs. 5,578 in Pakistan.

The consecutive drops mark a notable correction in precious metal prices after a period of elevated rates, offering some relief to buyers while reflecting broader volatility in global commodity markets.