Gold prices in Pakistan have experienced a significant decline over the past five days, marking the fifth consecutive day of losses. The price of 24-karat gold dropped by Rs. 2,500 per tola on Saturday, bringing the total decrease over the week to Rs. 17,000 per tola. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 24-karat gold is now priced at Rs. 422,036 per tola, while 10 grams of the same purity costs Rs. 361,827. Meanwhile, 22-karat gold has also seen a reduction, with 10 grams now priced at Rs. 331,686.
The losing streak began on Tuesday, with gold initially falling by Rs. 3,600 per tola. Subsequent days saw further declines, including a sharp drop of Rs. 7,000 per tola on Friday. The current price is approximately Rs. 20,000 below the monthly peak of Rs. 442,036, recorded on October 10.
The local market trends mirrored international movements, as global gold prices fell by $25 to $3,995 per ounce. Silver prices also experienced a slight decline, with per tola silver dropping by Rs. 7 to Rs. 5,858, and 10 grams of silver now priced at Rs. 5,022. The recent slide has erased the gains gold made in the first half of October, when it briefly surpassed Rs. 442,000 per tola.