KARACHI: Gold and silver prices in Pakistan dropped sharply on Thursday, extending their recent slide and providing some respite for household buyers and investors amid wedding season demand.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24‑karat gold per tola fell by Rs. 5,200 to settle at Rs. 493,762, while 10 grams of 24‑karat gold declined by Rs. 4,458 to Rs. 423,321. The rate for 22‑karat gold stood at Rs. 388,058 per 10 grams, down Rs. 4,087 from the previous session.
On the global front, international gold prices slipped to $4,714 per ounce, marking a $52 decrease. Analysts say the decline reflects profit‑taking and a stronger U.S. dollar, which has weighed on investor demand for safe‑haven assets.
Silver also registered a notable drop. The price of 24‑karat silver per tola fell by Rs225 to Rs8,099, while 10 grams of silver dropped Rs193 to Rs6,943. International silver prices eased to $76.15 per ounce, down $2.25.
Local jewelers note that the decline is a “good development” for consumers, particularly families preparing for weddings and festive purchases, as affordability improves after weeks of elevated rates. Traders expect cautious optimism in the market, with buyers likely to take advantage of the softer prices while keeping an eye on international trends.
