Gold Falls Rs11,000 per Tola Amid Iran US War
Gold prices in Pakistan dropped sharply on Thursday, with 24-karat rates falling by Rs11,000 per tola to Rs468,262, reflecting declines in both local and international markets.
Gold prices in Pakistan recorded a steep decline on Thursday, March 26, as the All Pakistan Sarafa Gems and Jewellers Association reported a major drop across all categories. The price of 24-karat gold per tola fell to Rs468,262, marking a decrease of Rs11,000 in a single day.
Read More: Gold Prices Fall Sharply in Pakistan
The decline signals a notable shift in the domestic bullion market linked to international price movements.
The association also reported that 24-karat gold per 10 grams dropped to Rs401,459, down by Rs9,430 compared to the previous session. Similarly, 22-karat gold per 10 grams declined to Rs368,017, showing a decrease of Rs8,644. These reductions indicate broad-based weakness across different purity levels in the local gold market.
International gold prices also moved downward, contributing to the domestic trend. The global rate was recorded at $4,455, reflecting a decline of $110. The fall in international prices often directly impacts local bullion rates, especially when prices are calculated based on interbank exchange rates, as noted by the association.
Silver prices followed the same downward trajectory on the day. The rate of 24-karat silver per tola declined to Rs7,484, marking a decrease of Rs340. Meanwhile, silver per 10 grams was reported at Rs6,416, down by Rs291. The consistent drop across gold and silver indicates a synchronized correction in the precious metals market.
International silver prices were also lower, recorded at $70.00 after a decline of $3.40. The reduction in global silver rates aligns with the broader trend seen in gold, suggesting external market pressures influencing domestic pricing structures.
The pricing data released was based on interbank exchange rates, which play a crucial role in determining local bullion prices. Movements in currency values can amplify or cushion the impact of international price changes, making exchange rates a key factor in daily price adjustments.
The rates were issued under the authority of Muhammad Qasim Shikarpuri, President of the All Pakistan Sarafa Gems and Jewellers Association. The association remains the primary body responsible for standardizing gold and silver prices across Pakistan’s markets.
Purity standards were maintained at 999 for gold, equivalent to 24-karat, ensuring consistency in pricing benchmarks. Such standards are critical for maintaining transparency and trust in the bullion trade, particularly during periods of volatility.
The sharp decline in gold and silver prices may influence buying patterns in the domestic market, as lower prices often attract retail and investment demand. However, sustained volatility could also create uncertainty among traders and investors, depending on global market direction.
Gold prices in Pakistan remain closely tied to international trends and currency movements, and further fluctuations are expected as global market conditions evolve.
Gold Rate in Pakistan Today
