Gold price per tola falls Rs600 in Pakistan

This drop has brought some relief to local buyers and investors who closely monitor gold prices in Pakistan for market cues and investment decisions.

The price of 24-karat gold per Tola settled at Rs 272,600, down from the previous closing of Rs 273,200 in the domestic market. It is notable that Pakistan recorded its highest-ever gold price of Rs 287,900 per Tola on October 30, 2024. The drop in gold prices in Pakistan aligns with global market movements, reflecting a strong correlation between domestic and international trends.

Similarly, the price of 24-karat gold per 10 grams decreased by Rs 514, closing at Rs 233,711 compared to the earlier value of Rs 234,225 in the local market. This reduction has made gold slightly more affordable for buyers, particularly in a market like Pakistan where gold is a traditional store of value and investment option.

Experts from the bullion market have attributed the decrease in gold prices in Pakistan to a $6 decline in international gold rates. The global gold price fell to $2,614 per ounce, compared to the previous day’s closing of $2,620. This international slump has directly influenced the domestic market, highlighting the interconnectedness of gold prices in Pakistan with global market dynamics.