KARACHI – Gold rates moved down in Pakistan on Friday in light of global market plunge, with per tola rate hovering at Rs351,000.
Jewellers Association numbers show price of 24-karat gold per tola decreased by Rs5,000, bringing it down to Rs351,000. In a similar trend, the price of 10 grams of gold fell by Rs4,287, now listed at Rs300,925.
This downward movement aligns with developments in the international gold market, where the per-ounce price slipped by $53, settling at $3,290. The drop is linked to a stronger global currency environment and a shift in investor behavior, as many are redirecting their investments toward alternative assets instead of gold.
In Pakistan, local gold rates are closely influenced by global pricing trends, fluctuations in the exchange rate, and domestic market demand. With the wedding season approaching, the current dip in prices may create a favorable buying window for both investors and consumers.
Over the past week, gold prices in Pakistan have shown a steady downward trend. Starting from Rs359,055 per tola, the price gradually declined almost each day, dropping to Rs354,665 by June 25. Some fluctuations were observed midweek, but the overall movement indicates a consistent decrease.
This downward trajectory reflects the broader pressure on gold prices, driven by both international market corrections and shifting investor sentiment.
