Gold Rates Fall Rs2,100 to Rs477,862 per tola
Gold and silver prices declined across Pakistan on May 5, reflecting lower international rates and interbank-linked pricing, according to jewellers’ association data.
Gold prices in Pakistan dropped on Tuesday, with 24-karat gold per tola falling to Rs477,862, down by Rs2,100 from the previous session, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Associations.Gold Prices Drop Sharply in Pakistan
The association said the price of 24-karat gold per 10 grams also declined to Rs409,689, marking a decrease of Rs1,801. Similarly, 22-karat gold per 10 grams was quoted at Rs375,561 after shedding Rs1,651 during the day.
The domestic bullion market tracked a fall in international prices, where gold was listed at $4,555, down by $21. The association noted that local prices are based on interbank exchange rates, which influence daily adjustments in Pakistan’s bullion markets.
Silver prices also recorded a decline in line with the broader trend in precious metals. Silver per tola dropped to Rs7,849, losing Rs65 compared to the previous day’s rate. The price for 10 grams of 24-karat silver stood at Rs6,729 after a reduction of Rs55.
In international markets, silver prices slipped to $73.65, reflecting a decrease of $0.65. The simultaneous fall in both gold and silver prices indicated a broader correction in global precious metal markets during the trading session.
Market participants said the pricing issued by the association reflects standardized rates used across major cities in Pakistan. These rates are widely followed by jewellers and traders for retail and wholesale transactions.
The rates announced on Tuesday were signed off by Muhammad Qasim Shikarpuri, president of the All Pakistan Sarafa Gems and Jewellers Associations. The association reiterated that all prices are calculated on the basis of interbank exchange rates, ensuring alignment with currency market movements.
The data also confirmed that gold purity remained at 999 for 24-karat, maintaining the benchmark quality used in official pricing across the country. Traders said purity standards play a key role in determining uniform pricing nationwide.
Bullion dealers noted that fluctuations in international prices directly impact local markets due to Pakistan’s reliance on imported gold. Changes in exchange rates further amplify price movements in rupee terms, making domestic prices more volatile.
The drop in prices on Tuesday comes after recent sessions of mixed movements in global bullion markets, with investors reacting to currency trends and shifts in demand. Local traders said such declines often lead to increased buying interest from consumers seeking lower entry points.
Despite the day’s decline, market sentiment remains sensitive to further movements in international gold and silver prices. Dealers expect continued volatility as global factors influence daily rate adjustments.
The All Pakistan Sarafa Gems and Jewellers Associations said it will continue issuing updated rates based on interbank exchange trends and international benchmarks. The latest decline in gold and silver prices underscores the close linkage between Pakistan’s bullion market and global pricing dynamics.