KARACHI – Gold rates in Pakistan saw massive hike as price of yellow metal plunged by Rs11,700 to Rs352,000 on Wednesday.
Data shared by Saraffa Asssociation shows price of gold moving down by Rs11,700 per tola, bringing it down to Rs352,000 whereas price of 10 grams now hovers at Rs301,783 after Rs10,031 cut.
Today Gold Rate
| Gold | Change | New Price |
| Per Tola | – Rs11,700 | Rs352,000 |
| 10 Grams | – Rs10,031 | Rs301,783 |
Gold Price in Pakistan This Week
| Dates | Price |
| 22-April | Rs363,700 |
| 21-April | Rs357,800 |
| 21-April | Rs357,800 |
| 19-April | Rs349,700 |
| 18-April | Rs349,700 |
| 17-April | Rs350,000 |
| 16-April | Rs348,000 |
The global market mirrored this downward trend. APGJSA reported the international gold rate at $3,338 per ounce (including a $20 premium), showing a $116 decline during the day. Spot gold was trading at $3,357.11 per ounce by 0256 GMT, down 0.7%, while U.S. gold futures slipped 1.5% to $3,366.80.
In contrast, silver prices edged higher in the local market, gaining Rs16 to reach Rs3,457 per tola.
International Gold Market
Analysts attribute the drop in gold prices to easing global tensions. U.S. President Donald Trump recently withdrew his threat to remove Federal Reserve Chair Jerome Powell and expressed renewed optimism over trade talks with China.
Kelvin Wong, Senior Market Analyst for Asia Pacific at OANDA, noted that the shift in sentiment has led to a temporary oversold condition in bullion market.
