Gold loses Rs1,500 per tola in local market


Gold price in Pakistan

KARACHI: Gold prices in Pakistan fell on Friday, tracking a similar downward movement in the international market.

According to data shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola dropped by Rs1,500, settling at Rs355,700 in the local bullion market. Similarly, the rate of 10 grammes of gold slipped by Rs1,286 to Rs304,955.

On Thursday, gold had surged by Rs2,000 per tola, reaching Rs357,200 after showing strength in both local and international markets. However, Friday’s correction reversed part of those gains.

The international market also witnessed a decline, with the gold rate standing at $3,330 per ounce (including a $20 premium), reflecting a loss of $15 from the previous session.

Meanwhile, silver prices remained unchanged at Rs4,031 per tola.

Price movement this week

The bullion market has experienced sharp swings over the past few days. On Wednesday, gold per tola fell by Rs1,400 to Rs355,200, only to rise the next day by Rs2,000. Friday’s dip once again brought the price below the Rs356,000 mark.

Analysts suggest that fluctuations in the dollar’s strength and expectations from the US Federal Reserve’s policy outlook have kept both international and local markets volatile.

Jewellers noted that while demand in Pakistan typically rises ahead of the wedding season, recent price instability has kept buyers cautious. Many investors, however, continue to view gold as a safe haven despite daily variations.

Gold price trend this month:

DateGold price (per tola)Change (per tola)
August 1Rs352,900down by Rs100
August 2Rs359,000up by Rs6,100
August 4Rs359,500up by Rs500
August 5Rs358,000down by Rs1,500
August 6Rs359,300up by Rs1,300
August 7Rs362,200up by Rs2,900
August 8Rs362,700up by Rs500
August 9Rs362,400down by Rs300
August 11Rs358,800down by Rs3,600
August 12Rs358,300down by Rs500
August 13Rs358,100down by Rs200
August 15Rs357,100down by Rs1,000
August 16Rs356,200down by Rs900
August 18Rs357,700up by Rs1,500
August 19Rs356,600down by Rs1,100
August 20Rs355,200down by Rs1,400
August 21Rs357,200up by Rs2,000
August 22Rs355,700down by Rs1,500

 

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