KARACHI – Gold prices in Pakistan dropped by Rs1,100 in local market amid downward trend in international market on Wednesday.
According to the Saraffa Association, the price of 24-karat gold per tola stood at 356,600 after a decrease of Rs1,100 while the rate for 10 grams stood at Rs305,727 with a decline of Rs943.
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 $3,339 per ounce after a decline of $11.
Today Gold Rate in Pakistan
| City | Gold Price | Silver Rate |
| Karachi | 356,600 | Rs4,031 |
| Lahore | 356,600 | Rs4,031 |
| Islamabad | 356,600 | Rs4,031 |
| Peshawar | 356,600 | Rs4,031 |
| Quetta | 356,600 | Rs4,031 |
| Sialkot | 356,600 | Rs4,031 |
| Hyderabad | 356,600 | Rs4,031 |
| Faisalabad | 356,600 | Rs4,031 |
Meanwhile, the rates of per tola and ten gram silver remained unchanged and stood at Rs.4,031 and Rs.3,455 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.
