Gold prices Drop by Rs 7100 Per Tola
Gold and silver prices declined across Pakistan, reflecting lower international rates and interbank-linked pricing, according to the All Pakistan Sarafa Gems and Jewellers Association.
Gold prices in Pakistan fell sharply on Thursday,in line with a decline in international bullion markets and interbank exchange rate adjustments, data released by the All Pakistan Sarafa Gems and Jewellers Association showed.
The price of 24-karat gold per tola dropped to Rs486,962, marking a decrease of Rs7,100 from the previous session. Similarly, the price of 10 grams of 24-karat gold declined to Rs417,491, down by Rs6,087. The rate for 10 grams of 22-karat gold also fell, settling at Rs382,713 after a reduction of Rs5,580.
The downward trend in domestic bullion prices followed a fall in international gold rates. The global price of gold was recorded at $4,642 per ounce, showing a decline of $71 during the session. Local market prices typically track international benchmarks, adjusted for currency movements and domestic demand conditions.
Silver prices also moved lower in the local market. The price of silver per tola dropped to Rs7,634, reflecting a decrease of Rs350. Meanwhile, the rate for 10 grams of 24-karat silver fell to Rs6,544, down by Rs300. On the international front, silver prices were recorded at $71.50 per ounce, declining by $3.5.
The association stated that the local gold rate is based on interbank exchange rates, indicating that currency fluctuations continue to play a key role in determining domestic bullion prices. A stronger rupee or easing global commodity prices typically exerts downward pressure on local gold rates, while depreciation and global rallies push prices higher.
The published rates reflect purity standards of 999 for gold, equivalent to 24 karats, which is considered the benchmark for pricing in Pakistan’s bullion markets. The Sarafa Association’s daily rates serve as a reference point for traders, jewellers, and consumers across the country.
Market participants often monitor both international bullion prices and local currency trends to anticipate price movements. Changes in global gold and silver prices can quickly transmit to domestic markets due to the open pricing mechanism linked with international benchmarks.
The decline observed on April 2 suggests a temporary easing in bullion markets, with both gold and silver recording notable single-day losses. Traders said such movements are typically influenced by shifts in global demand, investor sentiment, and currency valuations, although specific drivers for the latest decline were not detailed in the released data.
Jewellers and investors closely track these daily price updates for decision-making, particularly in a market where gold is widely used both for ornamentation and as a store of value. Fluctuations of several thousand rupees per tola, as seen in this session, can significantly impact retail demand and trading volumes.
The All Pakistan Sarafa Gems and Jewellers Association, whose president Muhammad Qasim Shikarpuri endorsed the release, publishes daily bullion rates based on market conditions. These rates are widely adopted by local markets and serve as an industry benchmark.
The latest decline in gold and silver prices comes amid continued volatility in international bullion markets, with domestic rates expected to remain sensitive to further changes in global prices and interbank currency movements. Pakistan gold prices will likely continue to follow international trends and exchange rate dynamics in the coming sessions.