KARACHI: Gold prices in Pakistan continued their downward trajectory on Wednesday, reflecting persistent weakness in international bullion markets and the impact of interbank exchange rate adjustments.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24‑karat gold per tola fell by Rs.1,200 to settle at Rs.498,962, while 10 grams of 24‑karat gold declined by Rs.1,029 to Rs.427,779. The rate for 22‑karat gold stood at Rs.392,145 per 10 grams, down Rs.943 from the previous session.
On the global front, international gold prices slipped to $4,766 per ounce, marking a $12 decrease. Analysts attribute the continued decline to profit‑taking and a firm U.S. dollar, which has dampened investor appetite for precious metals amid ongoing geopolitical uncertainty.
Silver also weakened further. The price of 24‑karat silver per tola dropped by Rs34 to Rs8,324, while 10 grams of silver fell Rs29 to Rs7,136. International silver prices eased to $78.40 per ounce, down $0.34.
Bullion traders say the sustained slide in prices has led to cautious buying in local markets, with investors awaiting clearer signals from global economic trends and currency movements. Jewelers expect subdued demand in the short term as consumers adjust to the latest price corrections.
