The gold market in Pakistan experienced a significant downturn today after reaching an all-time high earlier this week. The latest figures from the Sarafa Association indicate a major decrease in gold prices, bringing some relief to investors and buyers.
Gold Prices Drop Drastically in Pakistan
After a consistent upward trend, gold prices took a sharp dive on Saturday. The per tola price of 24-karat gold saw a notable decrease of Rs4,700, setting the new rate at Rs301,500. Similarly, the price of 10-gram gold fell by Rs4,030, closing at Rs258,487 in the local market.
This decline comes shortly after the previous day’s surge, where the per tola gold price jumped by Rs2,200 to reach a record-breaking Rs306,200. The 10-gram price had also climbed by Rs1,886, settling at Rs262,517 at that time.
International Market Impact on Gold Prices
The global gold market also witnessed a downturn, impacting local rates. The international per ounce price of gold dropped by $50, bringing the new rate to $2,883. Just a day prior, the international rate had risen by $20, reaching $2,933, fueled by ongoing economic uncertainty and fluctuating global demand.
Gold Price Trends in 2024
The Pakistani gold market experienced significant volatility throughout 2024, with prices seeing a remarkable Rs52,600 increase over the year. Several factors, including inflation concerns, global economic instability, and fluctuating currency exchange rates, contributed to these price movements.
Market Experts’ Insights
Financial analysts attribute the recent price drop to several key factors:
- International Market Correction – The global gold market saw a correction, affecting local rates.
- Strengthening of Local Currency – The Pakistani Rupee gained stability, impacting gold prices.
- Fluctuating Demand – Decreased demand for gold in the local market played a role in price adjustments.
Also Read: Saudi Riyal to Pakistani Rupee Rate Remains Steady – 15 February 2025
Future Predictions for Gold Prices in Pakistan
Market experts predict continued volatility in gold prices due to ongoing global economic shifts. Investors are advised to stay informed and monitor market trends before making any significant investments.
Latest Gold Prices in Pakistan (February 15, 2025)
Below is a breakdown of the latest gold prices in Pakistan:
| Gold Type | Price (PKR) |
|---|---|
| Per Tola (24K) | Rs301,500 |
| 10-Gram (24K) | Rs258,487 |
| Per Ounce (Global) | $2,883 |
Final Thoughts
The recent drop in gold prices presents a critical turning point in Pakistan’s bullion market. While investors and traders continue to assess the market fluctuations, buyers looking for investment opportunities may find this a favorable time to enter the market.
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Stay tuned for the latest updates on gold prices and market trends.