Pakistan Gold Prices Plummet as Global Rates Slide

Gold prices in Pakistan dropped by Rs800 per tola on Tuesday, according to rates issued by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA). This brought down the price of gold to Rs465,336.

The decline mirrored a softer session in the global bullion market, where international spot gold slipped $8 to $4,428 per ounce. As a result, local rates adjusted lower since Pakistan's gold prices are pegged closely to international benchmarks.

Gold has been volatile over the past week, with local rates swinging by over Rs15,000 per tola in some single sessions as global investors react to signals from the US Federal Reserve and shifting expectations around interest rate policy.