Gold prices fall in Pakistan after fresh dip in global bullion rate

Gold prices registered a decline in both international and domestic markets on Saturday, tracking a slight correction in global rates.

According to the All Pakistan Gems and Jewellers Association, the international bullion rate slipped by $2 to $3,643 per ounce.

The dip pushed local prices lower, with the 24-carat gold rate falling by Rs200 to Rs386,300 per tola. The price of 10 grams of 24-carat gold also dropped by Rs172 to Rs331,189.

Silver followed the downward trend, as its per-tola rate fell by Rs13 to Rs4,443, while 10 grams decreased by Rs11 to Rs3,807. The association noted that the movement reflects international market trends and fluctuations in currency.

The decline comes after a sharper fall earlier in the week, when gold dropped by $36 per ounce in the international market to settle at $3,618.

That correction led to a Rs4,100 decrease in local gold prices, bringing the 24-carat rate down to Rs384,000 per tola. Prices of 10 grams slid by Rs3,515 to Rs329,218 at the time.

Silver also mirrored the movement on Thursday, with its per-tola rate declining by Rs36 to Rs4,326, while 10 grams eased by Rs32 to Rs3,736.

Bullion dealers attributed the fluctuations to corrections in international markets and subdued domestic demand amid price volatility.