Gold tumbles Rs3,400 per tola in Pakistan

Gold prices in Pakistan registered a sharp decline on Wednesday, with the price of 24-karat gold per tola falling by Rs3,400 to Rs427,436. The latest move extends the downward trend in the domestic market and reflects weakness in global bullion prices.

On a gram basis, the price of 10-gram gold decreased by Rs2,915 to Rs366,457.

Wednesday’s fall followed a earlier decline in the domestic market on Tuesday. On that day, the per-tola price of gold fell by Rs1,500, bringing it to Rs430,836. The two consecutive sessions of losses have pulled local gold prices lower within a short span.

On November 10, the rate for 10 grams of gold in Pakistan was Rs369,372. The current figure of Rs366,457 for 10 grams highlights the cumulative impact of the recent declines on local valuations.

The slide in Pakistani gold prices has moved in step with weakness in the international bullion market. Global gold prices fell by $34 to $4,049 per ounce, and this drop was a key factor behind the adjustment in local rates.

Official domestic quotations explicitly tied Wednesday’s cut in Pakistani prices to the loss in the international market. The alignment underscores how movements in global dollar-denominated gold influence rupee-based pricing for both per-tola and per-gram benchmarks in Pakistan.

The latest downward adjustment leaves the per-tola price at Rs427,436 and the 10-gram rate at Rs366,457, levels that set the reference for transactions in the local bullion and jewellery market. These benchmarks guide pricing for retail buyers, sellers, and traders across the country.

With back-to-back reductions of Rs1,500 and Rs3,400 per tola over Tuesday and Wednesday, local participants are facing a rapidly shifting price environment. The current rates will serve as the basis for near-term trade until fresh movements in the international market trigger further revisions.