ISLAMABAD – Gold prices in Pakistan dropped by Rs11,300 per tola on September 2, falling to Rs454,036 as international bullion rates also witnessed a sharp decline.
On Wednesday, the price of 24-karat gold declined to Rs454,036 per tola. The rate of gold weighing 10 grams also decreased by Rs9,688, reaching Rs389,262. The latest decline came a day after gold had settled at Rs465,336 per tola on Tuesday, when the market recorded a comparatively modest fall of Rs800.
Gold Rates in Pakistan
| Gold | Old Rate | New Rate | Change |
|---|---|---|---|
| Gold per Tola | Rs465,336 | Rs454,036 | -Rs11,300 |
| Gold per 10 Grams | Rs398,950 | Rs389,262 | -Rs9,688 |
Gold started the year at Rs457,000 per tola before entering a powerful rally. The surge took the price to an unprecedented Rs572,862 per tola on January 29, marking the year’s peak so far. The record was followed by an abrupt reversal, with gold reportedly losing around Rs35,500 per tola the following day.
After January peak, gold entered a prolonged period of correction. In March, the rate started at approximately Rs541,000 per tola before falling to nearly Rs470,655 on March 23. Prices later recovered toward Rs492,000.
The estimated average gold price for March was around Rs505,612 per tola. During April, gold traded between approximately Rs469,650 and Rs496,180, while its estimated monthly average stood at Rs485,509 per tola. The market remained under pressure in May, with prices fluctuating between around Rs458,000 and Rs480,240. The estimated average for the month was Rs467,859 per tola.
The downward trend extended into June, when gold touched approximately Rs423,370 per tola on June 11. Gold prices during June remained within a range of Rs423,370 to Rs460,485, with an estimated average of Rs441,895 per tola. July saw further weakness. Gold traded between approximately Rs421,713 and Rs438,500, while the estimated monthly average declined to Rs428,499 per tola.
There were big changes in August as Gold entered month at Rs425,500 per tola, but prices steadily climbed as the month progressed. The rate moved above Rs450,000, then reached around Rs460,000 on August 19 and approximately Rs465,000 on August 20. The rally gained further momentum, pushing gold above the Rs480,000 threshold. The price reached approximately Rs480,566 per tola on August 25.
However, the August rally failed to hold through the end of the month. Gold retreated to approximately Rs454,476 per tola by August 31. Despite the late-month decline, the estimated average gold price for August was around Rs453,907 per tola.
Per Tola Gold Price drops to Rs4.65 Lac in Pakistan; Check New Rates
