KARACHI: Gold prices in Pakistan saw a significant drop on Friday, with the rate per tola falling by Rs5,000, bringing it down to Rs351,000. The decline comes amid ongoing economic challenges facing the country.
According to data released by the Saraffa Association, the price of 24-karat gold dropped by Rs5,000 per tola, while the cost of 10 grams of gold decreased by Rs4,287, now standing at Rs300,925.
Today’s Gold Rates:
| Gold | Price Drop | New Price |
|---|---|---|
| Gold (per tola) | Rs5,000 | Rs351,000 |
| Gold (10 grams) | Rs4,287 | Rs300,925 |
Gold Prices in Pakistan This Week:
| Dates | Price |
| 25-June | Rs354,665 |
| 24-June | Rs354,365 |
| 23-June | Rs358,165 |
| 21-June | Rs358,465 |
| 20-June | Rs357,000 |
| 19-June | Rs358,595 |
| 18-June | Rs359,055 |
The recent slump in domestic gold rates mirrors a sharp fall in global markets, where the price of gold slipped by $53 to settle at $3,290 per ounce.
Analysts point to the strengthening of global currencies and shifting investor preferences as key reasons behind the downturn, with many looking toward other avenues for investment.
Gold prices in Pakistan are directly influenced by international trends, factoring in the exchange rate and local market demand.
The current drop is being viewed as a possible opportunity for those looking to invest or buy jewellery, especially with the wedding season approaching.