Gold Price Declines by Rs1,600 Per Tola in Pakistan Amid Global Market Drop
Gold prices in Pakistan fell on Saturday, following a decline in international markets. The price of gold per tola decreased by Rs1,600, reaching Rs422,562 in the local market.
The 10-gram gold rate also went down by Rs1,372, settling at Rs362,278. These figures come from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), which tracks gold prices across the country.
On the previous trading day, Friday, gold prices had risen. The per tola rate increased by Rs5,300, reaching Rs424,162. The recent drop on Saturday marks a reversal of that upward trend.
Internationally, gold prices also declined. The APGJSA reported the global gold rate at $4,002 per ounce, with a premium of $20. This rate reflected a daily decrease of $16. Silver prices in Pakistan moved lower as well, dropping by Rs65 per tola to Rs5,127. This decline aligns with the decreased demand and adjustments in global market trends.
Alongside bullion prices, the Pakistan Stock Exchange (PSX) saw gains in key indices on Saturday. The KSE-100 index rose by 4,898.9 points, a 3.13 percent increase, closing at 161,632. The BR100 index also increased by 590.5 points, a 3.6 percent gain.
Currency trading showed stability, with the US dollar to Pakistani rupee interbank rate holding close to 280.70 PKR. Such trends reflect cautious optimism amid market fluctuations globally.
The gold market movements are expected to continue responding to shifts in international prices, currency exchanges, and local economic factors. Traders and investors often watch these indicators closely to guide their decisions.
The data shared by APGJSA provides insight into current trends, helping buyers and sellers track valuable commodities in Pakistan’s economy.
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