Gold prices in Pakistan today

After witnessing a continuous surge, gold prices have recorded a decline in both international and local markets.

According to market reports, the international bullion market saw an $8 drop in gold prices per ounce, bringing the global price down to $2,940.

In Pakistan’s local bullion markets, the price of 24-carat gold per tola fell by Rs800, reaching Rs308,700.

Additionally, the price of 10 grams of gold saw a decline of PKR 686, settling at Rs264,660. On the previous day, gold had hit a record high at Rs265,346 per 10 grams.

This drop comes after both global and domestic gold markets reached historic price levels just a day earlier. Analysts attribute the decline to market corrections following the sharp rally in gold prices.

Market experts continue to monitor fluctuations, as global economic conditions and currency values play a significant role in influencing gold prices.

Yesterday, gold prices in Pakistan surged to a new all-time high on Monday, reflecting global market trends. The price of gold per tola climbed by Rs1,500, reaching Rs309,500.

Likewise, the rate for 10 grams of gold rose by Rs1,286 to settle at Rs265,346, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On the preceding Saturday, gold prices had already increased by Rs1,000, bringing the per tola price to Rs308,000.

Globally, however, gold prices saw a decline on Monday as traders secured profits following recent record highs.

The market focus has now shifted to an upcoming US inflation report, which could influence future price movements.