Gold price in Pakistan drops by Rs400 per tola despite global surge

On Wednesday, the price of gold in Pakistan saw a decrease, with 24-karat gold being sold at Rs240,600 per tola, marking a Rs400 drop per tola. This decline in gold prices reflects a broader trend tied to the reduced purchasing power of consumers.

The Karachi Sarafa Association reported that the price of 24-karat gold per 10 grammes also fell, reaching Rs206,276, a decrease of Rs343. Similarly, 22-karat gold experienced a drop, now priced at Rs189,086 per 10 grammes.

While gold prices declined, silver prices remained stable in the domestic market. The price of 24-karat silver stood unchanged at Rs2,820 per tola and Rs2,418 per 10 grammes.

On the international stage, spot gold traded near $2,331 an ounce, a modest increase of $2.5 or 0.11 per cent from the previous session, reflecting the dynamic nature of global precious metal markets.

The sustained decrease in local gold prices, despite global fluctuations, underscores the economic challenges faced by consumers in Pakistan, influencing their ability to invest in gold.