Karachi – Gold prices in Pakistan declined for the second consecutive day on Thursday, tracking the global downward trend in precious metal markets. According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola dropped by Rs900, bringing the new rate to Rs355,100.
Similarly, 10-gram gold saw a decrease of Rs771, settling at Rs304,441.
This follows Wednesday’s significant drop, when gold prices fell by Rs3,000 per tola, reaching Rs356,000. The continued decline reflects easing demand and bearish sentiment in the international bullion market.
Internationally, gold also edged lower. The global spot price was reported at $3,326 per ounce, including a premium of $20, marking a $9 decrease from the previous day.
Rupee Weakens Amid Import Pressures and Dollar Demand; Gold Prices Fall Locally
The recent weakness in gold prices globally is being attributed to factors such as a strengthening U.S. dollar, higher bond yields, and easing geopolitical concerns. For local markets, currency fluctuations and premium adjustments are also playing a role in price movements.
Traders and investors are advised to monitor international cues and currency exchange rates closely, as gold prices are likely to remain volatile in the coming weeks.