Gold price reverses previous day’s gains in Pakistan

KARACHI: Gold prices in Pakistan fell again on Thursday, with the price of one tola declining by Rs3,000, a day after it had increased by Rs4,300, according to the All Pakistan Gems and Jewellers Sarafa Association.

The price of one tola of gold fell to Rs438,636, from Rs441,636 recorded on Wednesday.

The price of 10 grammes of gold also declined by Rs2,572 to Rs376,059, according to the association.

Gold prices had risen sharply on Wednesday after falling for three consecutive trading sessions. The price of one tola had increased by Rs4,300 on Wednesday, following declines of Rs2,100 on Saturday, September 26, Rs12,800 on Monday and Rs800 on Tuesday.

The latest movement reflects continued volatility in the local gold market, where prices are influenced by international bullion rates and currency movements.

For buyers, Thursday’s decline offers some relief after the sharp increase recorded a day earlier, although gold prices remain subject to fluctuations in global and domestic markets.