Gold Prices Crash in Pakistan
Gold prices have witnessed a record-breaking decline both globally and locally, bringing major relief to jewelry buyers across Pakistan.
According to market reports, a combination of global economic factors including a slowdown in gold investment, strengthening of the US dollar, and reduced geopolitical tensions has caused gold and silver rates to tumble continuously.
Global Market Update
In the international bullion market, pure gold dropped sharply by $140 per ounce, settling at $3,940. This significant fall reflects weakening investor demand and growing confidence in the global economy.
Local Gold Rates in Pakistan
The impact of the global downturn is clearly visible in Pakistan’s gold market as well. On Tuesday, the price of 24-karat gold dropped by a massive Rs. 14,000 per tola, reaching Rs. 416,362.
Similarly, 10 grams of gold recorded a decrease of Rs. 12,003, now being sold at Rs. 356,963 across major cities including Karachi, Lahore, and Islamabad.
Silver Prices Also Down
Silver followed the same downward trend. The price of silver per tola fell by Rs. 173, now priced at Rs. 4,924, while 10 grams of silver saw a reduction of Rs. 148, reaching Rs. 4,221.
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What It Means for Buyers
The continuous drop in gold and silver prices could be a golden opportunity for investors and jewelry buyers to purchase at lower rates. However, experts suggest keeping an eye on global market trends as prices may fluctuate again depending on currency strength and geopolitical developments.
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