KARACHI – Prices of Gold continued to fall on Wednesday, extending losses for second consecutive day amid a decline in international bullion rates.
The latest reduction has brought the price of 24-karat gold down to Rs427,436 per tola, following a sharp single-day decrease of Rs3,400. The price of 10 grams of gold also dropped by Rs2,915, settling at Rs366,457.
Latest Gold and Silver Rates in Pakistan
| Precious metal | Latest price |
| 24K gold (1 tola) | Rs427,436 |
| 24K gold (10 grams) | Rs366,457 |
| International gold (1 ounce) | $4,049 |
| Silver (1 tola) | Rs5,768 |
The decline comes just a day after gold became Rs1,500 cheaper on Tuesday, when the per-tola rate stood at Rs430,836. Together, the two reductions have made gold Rs4,900 cheaper per tola in just 48 hours, bringing some relief to consumers planning jewellery purchases.
The downward movement in Pakistan’s gold market mirrors a fresh decline in international prices. Gold lost $34 per ounce in the global market on Wednesday, bringing its price down to $4,049.
While gold prices continued to fall, silver moved in the opposite direction. Silver gained Rs45 per tola on Wednesday, pushing its price to Rs5,768.
Pakistan’s gold market has witnessed considerable fluctuations this year, with prices moving sharply between different periods. During February, gold was quoted around Rs508,000 per tola, with a reported peak of Rs539,000. March also saw elevated prices, with the precious metal trading around Rs471,000 and touching a reported high of Rs541,000.
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Prices eased during April and May, when the reported range stood between Rs458,000 and Rs470,000 per tola, although peak levels were recorded between Rs480,000 and Rs496,000. The downward movement became more noticeable during June and July, when gold prices hovered around Rs422,000 to Rs423,000, while reported highs ranged between Rs438,000 and Rs460,000.
During August-September, prices were quoted between Rs426,000 and Rs434,000, with higher levels reaching Rs460,000 to Rs481,000. October got another period of volatility, with gold falling as low as Rs404,493 per tola in the supplied figures, compared with a reported peak of Rs437,000.
