Bullion prices in Pakistan extend their decline at the weekend as weakness in international gold markets feeds through to local trading. The per tola rate drops by Rs10,800 to Rs409,736, while the global gold price falls by $108 to $3,872 per ounce.
Highlights
- Gold prices in Pakistan fall by Rs9,259 per 10 grams to Rs351,282 and by Rs5,100 per tola to Rs420,536, tracking global losses.
- International gold rate drops $108 to $3,872 per ounce, prompting domestic bullion rate adjustments in line with global benchmarks and currency conversion.
- Silver also declines, with the per tola rate dropping Rs142 to Rs5,388, indicating widespread pressure on precious metals in Pakistan's market.
Local bullion rates track global drop
As reported by Business Recorder, citing the All-Pakistan Gems and Jewellers Sarafa Association, gold prices in the local market decrease on Saturday in line with losses in international trading. The price of 10-gram gold falls by Rs9,259 to Rs351,282.The latest move follows a decline on Friday, when the per tola gold rate reaches Rs420,536 after dropping Rs5,100 during the day. The new Saturday pricing marks a further step down for domestic bullion rates.
Broader impact on Pakistan precious metals market
The international gold rate declines by $108 to $3,872 per ounce, setting the direction for domestic price adjustments in Pakistan's bullion market. Local dealers typically align retail prices with changes in global benchmarks and the rupee-based conversion used in daily rate setting.Silver prices also move lower, with the per tola rate decreasing by Rs142 to Rs5,388. The simultaneous decline in gold and silver points to broader pressure across precious metals trading.
In our earlier article on Pakistan’s October 15 fuel price revision, we covered how the government raised petrol slightly while trimming high-speed diesel under its regular pricing mechanism. The update explained that the adjustments were linked to global oil-market moves and changes in benchmarks and related costs that feed into local ex-depot pricing.
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