KARACHI: After a strong upward run during the week, gold prices in Pakistan eased slightly on Saturday.
According to the Sarafa Association, the price of gold per tola fell by Rs600 to Rs481,862, while the rate for 10 grams dropped by Rs515 to Rs413,118.
The local market’s movement followed a mild decline in international prices, where gold slipped by $6 per ounce to settle at $4,595.
Silver also saw a decrease, with the per tola rate falling by Rs43 to Rs9,482.
Gold trader Aqil Ali, who closely tracks both local and global trends, said prices are expected to open lower in the coming business week as tensions surrounding Iran ease. He noted that US President Donald Trump’s decision to avoid military action has reduced uncertainty in the markets.
Meanwhile, in Lahore, new standard operating procedures have been introduced for jewelers following the investigation into the alleged theft of 20 kilograms of gold from Ichhra market. Lahore DIG Investigation Syed Zeeshan Haider issued the guidelines after a month-long probe, aiming to regulate gold trading and protect legitimate businesses from undue pressure.
The SOPs were framed at the request of Muhammad Ahmad, Chairman of the Lahore Division Sarafa and Jewelers Association. They are designed to ensure transparency and prevent unnecessary interference in the affairs of registered jewelers.
Under the new rules, police officers may not harass or involve jewelers in investigations without solid evidence linking them to stolen goods. Any review of records or CCTV footage must take place in the presence of an authorized Sarafa Association representative.
If suspicious transactions arise, purchase registers and related documents can only be seized with the association officials present, along with a video recording and a signed acknowledgment from the jeweler. DIG Haider warned that any misuse of authority would invite strict departmental action.
The guidelines also require jewelers to maintain complete seller records, including CNIC copies and photographs, to ensure transparency and avoid legal complications. For operational matters, DSP Legal Javed Dogar has been appointed as the focal person.