Gold prices in Pakistan have witnessed a massive correction today, plunging by over Rs. 21,500 per tola as of Tuesday morning.
This sharp decline follows a global sell-off and a slight strengthening of the rupee in the interbank market, according to the latest rates issued by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).
The local market is reacting to a “brutal reset” in international bullion rates, which have fallen significantly from recent record highs.
Silver Prices Also Retreat
Silver, often trailing gold’s momentum, also saw a downward trend today.
The local price for silver dropped by roughly 6.6% compared to yesterday’s closing.
24K Silver (Per Tola): Now trading at Rs. 8,405 (down by Rs. 601).
24K Silver (10 Grams): Now trading at Rs. 7,205 (down by Rs. 516).
While the drop is historic, the All Pakistan Sarafa Association notes that local rates remain strictly tied to the interbank USD/PKR exchange rate, ensuring that any local currency fluctuations will continue to impact your next jewelry purchase.
