Gold rate dips by Rs500 per tola in Pakistan amid global decline

KARACHI: Gold prices in Pakistan experienced a decline, in line with global market trends. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold dropped by Rs500 on Saturday, bringing the rate per tola to Rs300,000.

Similarly, the price of 10-gram gold fell by Rs438, settling at Rs257,201. A more significant drop was recorded on Friday when the price per tola saw a sharp decline of Rs2,500.

Silver prices also followed a downward trend, decreasing by Rs10 to Rs3,240 per tola.

On the international front, gold prices dipped as well. As reported by APGJSA, the global rate for gold was $2,857 per ounce, inclusive of a $20 premium, reflecting a $6 decrease during the day.

In other financial news, the Pakistani rupee (PKR) strengthened marginally against the US dollar. In Friday’s interbank session, the rupee appreciated by 5.40 paisa or 0.02 per cent, closing at Rs279.67 per dollar, up from Thursday’s closing rate of Rs279.72.

For the current fiscal year, the rupee has depreciated by Rs1.33 or 0.47 per cent against the dollar. However, since the start of 2025, it has lost Rs1.12 or 0.40 per cent in value.

In the open market, exchange companies quoted the dollar at Rs279 for buying and Rs281.50 for selling.

When compared to other foreign currencies, the rupee showed strength:

Against the British pound, the rupee gained Rs2.26 or 0.64 per cent, closing at Rs352.17, up from Rs354.44.

The rupee appreciated by Rs2.06 or 0.70 per cent against the euro, ending the day at Rs290.87 compared to Rs292.93.

Against the Swiss franc, the rupee rose by Rs1.51 or 0.49 per cent, closing at Rs310.40.

The rupee also strengthened by 9.14 paisa or 0.24 per cent against the Chinese yuan, ending at Rs38.40 from Rs38.49.

The PKR saw a slight increase against the Japanese yen, appreciating by 1.57 paisa or 0.84 per cent, closing at Rs1.8591 from the previous day’s Rs1.8748.

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