Key Takeaways
- Gold prices in Pakistan fell sharply on Saturday.
- The price of 24-karat gold closed at Rs. 460,236 per tola.
- International gold prices also declined, settling at $4,377 per ounce.
Gold prices in Pakistan experienced a sudden drop on Saturday, following a similar trend observed in the international market. The All Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that the price of 24-karat gold closed at Rs. 460,236 per tola, a decrease of Rs. 100 from the previous day.
The price of 10 gram gold settled at Rs. 394,578, down by Rs. 85. This decline comes after a gain of Rs. 6,900 on Friday, bringing the price to Rs. 460,336.
In the international market, gold prices also showed a downward trend, with the metal settling at $4,377 per ounce, including a $20 premium. This decline in international prices is likely to influence local markets, leading to further volatility.
Trends for the upcoming week suggest that gold prices could test the Rs. 4.7 lac territory again, indicating a potential for significant fluctuations in the coming days.
The APGJSA advised consumers and traders to remain cautious as the market remains volatile. The association noted that the price of silver also saw a decline, settling at Rs. 7,100 per tola after losing Rs. 69 on Saturday.
