Gold falls Rs3,000 to Rs488,462 per tola
Pakistan gold prices dropped sharply on April 7, tracking global declines, while silver rates remained unchanged in the local market.Gold prices in Pakistan declined on Tuesday, with the per tola rate falling Rs3,000 to Rs488,462, according to data released by the All Pakistan Sarafa Gems and Jewellers Association.
The decline reflects a broader adjustment in international bullion markets.The price of 24-karat gold per 10 grams dropped Rs2,572 to Rs418,777, while 22-karat gold per 10 grams decreased Rs2,358 to Rs383,892.
The association said local prices are calculated based on interbank exchange rates, linking domestic bullion trends closely with currency movements.In international markets, gold prices fell by $30 to $4,657 per ounce, indicating a softening in global demand or profit-taking after recent gains.
Pakistan, which relies on imported gold, typically mirrors international price movements adjusted for rupee-dollar parity.Silver prices, however, showed no change in the domestic market. The per tola rate remained stable at Rs7,744, while 10 grams of silver held at Rs6,639.
International silver prices also remained unchanged at $72.60 per ounce, suggesting relative stability in the white metal compared to gold.Gold prices in Pakistan have remained volatile in recent months, largely driven by fluctuations in global bullion markets and exchange rate pressures.
The interbank-linked pricing mechanism means any depreciation of the rupee tends to push local gold prices higher, even when international rates ease.The bullion market is also influenced by domestic demand trends, particularly during wedding seasons and religious occasions, when jewelry consumption typically rises. However, elevated price levels have recently constrained retail demand, according to market participants.
The All Pakistan Sarafa Gems and Jewellers Association said the quoted rates are based on 24-karat purity at 999 fineness. Market dealers noted that short-term price direction will depend on international trends and currency stability, with investors closely watching global economic signals and interest rate expectations.Going forward, Pakistan’s gold market is expected to remain sensitive to global price movements and exchange rate shifts, with investors using bullion as a hedge against inflation and currency volatility.