KARACHI – Gold prices in Pakistan extended their losing streak as the bullion market witnessed another decline. According to the latest market data, the price of gold per tola dropped by Rs600 in a single trading session, bringing the new rate to Rs476,262.
The price of 10 grams of gold declined by Rs515, settling at Rs408,317, reflecting continued pressure on the local precious metals market.
Gold and Silver Rates in Pakistan
- Gold (per tola): Rs476,262
- Gold (10 grams): Rs408,317
- International gold price: $4,539 per ounce
- Silver (per tola): Rs8,073
21 Karat Gold Prices
| Gold Rate | 22K Gold | 21K Gold | 18K Gold |
|---|---|---|---|
| Per Tola | Rs430,558 | Rs410,987 | Rs352,275 |
| Per 1 Gram | Rs36,914 | Rs35,236 | Rs30,202 |
| Per 10 Gram | Rs369,141 | Rs352,362 | Rs302,025 |
| Per Ounce | Rs1,046,256 | Rs998,699 | Rs856,028 |
On international front, gold prices remained under pressure. In global bullion markets, the price of gold slipped by $6 per ounce to $4,539, including a premium of $20. Analysts say weakening investor sentiment and ongoing fluctuations in international financial markets are contributing to the downward movement in precious metals.
Silver prices mirrored the same trend in Pakistan’s local market. The price of silver per tola fell sharply by Rs159, closing at Rs8,073.
Weekly Gold Price Movement
Gold prices experienced noticeable volatility throughout the past week. The recorded rates were:
- 15 May: Rs476,862 per tola
- 14 May: Rs492,362 per tola
- 13 May: Rs491,362 per tola
- 12 May: Rs492,462 per tola
- 11 May: Rs488,362 per tola
- 9 May: Rs493,662 per tola
- 8 May: Rs494,062 per tola
The latest figures indicate a sustained downward trend after gold touched higher levels earlier in the week. Market observers believe that changing global economic conditions, fluctuations in the US dollar, and investor reactions to international developments are continuing to influence bullion prices worldwide.
Experts say the precious metals market may remain volatile in the coming days as traders closely monitor global economic indicators and geopolitical developments that could impact demand for safe-haven assets such as gold and silver.
Gold Price Update: Per Tola records Rs600 dip amid dip in Global market
