KARACHI – Gold prices in Pakistan saw a whooping decline in local market in line withe downtrend in international market on Friday.
According to the Saraffa Association, the price of 24-karat gold per tola decreased by Rs2,000 and stood at 353,000 while the rate for 10 grams stood at Rs302,641.
Gold is a valuable commodity widely traded in global markets. Known for its rarity and durability, gold has been used for centuries as a store of value and hedge against inflation. It is traded in various forms, including physical bullion, futures contracts, and exchange-traded funds (ETFs).
Investors often turn to gold during economic uncertainty, as it tends to retain value when other assets decline. Major trading centers include London, New York, and Shanghai. Gold prices are influenced by factors like interest rates, currency strength, and geopolitical events, making it a crucial component of diversified investment portfolios.
In international market, the gold price stood at $3,303 per ounce after dipping by $20.
Today Gold Rate in Pakistan
| City | Gold Price | Silver Rate |
| Karachi | 353,000 | Rs4,035 |
| Lahore | 353,000 | Rs4,035 |
| Islamabad | 353,000 | Rs4,035 |
| Peshawar | 353,000 | Rs4,035 |
| Quetta | 353,000 | Rs4,035 |
| Sialkot | 353,000 | Rs4,035 |
| Hyderabad | 353,000 | Rs4,035 |
| Faisalabad | 353,000 | Rs4,035 |
Meanwhile, the rates of per tola and ten gram silver also dropped and now stands at Rs.3,909 and Rs.3,344 respectively.
Market experts attribute the ongoing volatility to uncertain trends in global bullion trading and the fluctuating value of the Pakistani rupee against the US dollar.
