Gold prices in Pakistan fell on Saturday, tracking losses in the international market as bullion remained under pressure after a volatile week.
According to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold dropped by Rs1,000 per tola. It reached Rs431,236 in the local market.
The price of 10 grams of gold also fell by Rs730. It settled at Rs369,715.
The latest decline came as the international gold rate dropped by $10 to $4,088 per ounce, including a premium of $20.
Weekly Pressure on Bullion
Gold had also posted a sharp fall earlier this week. On June 23, the price per tola stood at Rs432,236 after a major single-day decline of Rs10,400.
Global gold prices have remained under pressure due to a stronger dollar and expectations around US interest rates. Higher rates often reduce demand for non-yielding assets such as gold.
Market data showed gold trading near $4,088 an ounce on Friday, broadly in line with the international rate quoted by local jewellers.
Analysts said investors remained cautious after recent swings in bullion. Gold has moved sharply in recent sessions as traders assess inflation, the dollar and central bank policy signals.
Silver Also Declines
Silver prices also moved lower in Pakistan on Saturday. The price of silver per tola fell by Rs271 to Rs6,393.
Jewellers said local rates continue to track global bullion prices and the rupee-dollar exchange rate. Domestic prices may also vary slightly between cities due to local market costs.
Gold remains a key investment and savings option in Pakistan. Buyers often turn to the precious metal during periods of currency weakness and economic uncertainty.
However, recent declines have made investors cautious. Traders said buyers may wait for more stability before making large purchases.
The latest fall offered some relief to consumers ahead of fresh buying. But prices remain historically high, keeping jewellery demand under pressure.
