On Thursday, gold prices in Pakistan saw a steep decline, influenced by global market reactions to the 2024 US presidential election results. In the local market, the price of 24-karat gold per tola dropped by Rs5,400, settling at Rs276,800. This decrease aligns with international trends, where gold prices also fell sharply. The cost for 10 grams of 24-karat gold similarly declined by Rs4,630, now at Rs237,311, as confirmed by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA)—a shift affecting traders and investors significantly.
Internationally, gold prices fell by $65 to $2,662 per ounce, with an additional premium of $20 impacting rates globally. Silver also felt the market impact, with silver per tola in Pakistan dropping by Rs130 to Rs3,300.
This sharp fall in gold prices is under close watch by traders, investors, and consumers, as it reflects the precious metal’s sensitivity to political shifts in the US. Experts anticipate continued market fluctuations as the global and political landscapes evolve.
