Gold Takes Historic Hit, Buyers Rush to Market

News Desk 

Islamabad: A sharp downturn in global bullion markets triggered a dramatic drop in gold prices across Pakistan, offering rare relief to buyers and investors alike.

According to market data, the price of gold per tola plunged by an unprecedented Rs43,600 in a single day, bringing it down to Rs447,762 in the local market. This steep decline mirrors a significant fall in international rates, where gold dropped by $436 to settle at $4,250 per ounce.

The downward trend was also reflected in smaller units, with 10-gram gold being traded at Rs383,883, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Silver prices followed the same trajectory, witnessing a notable decrease of Rs800 per tola, now priced at Rs6,884.

Read More: https://thepenpk.com/gold-prices-slide-in-pakistan-and-global-markets/

Market analysts suggest the sudden plunge could stimulate short-term buying activity, particularly among consumers who had been holding off due to record-high prices in recent weeks. However, they caution that continued volatility in global markets may keep precious metal prices unpredictable in the coming days.

The sharp correction marks one of the most significant single-day declines in Pakistan’s gold market, shifting sentiment from caution to opportunity for many investors.

Market analysts suggest the sudden plunge could stimulate short-term buying activity, particularly among consumers who had been holding off due to record-high prices in recent weeks. However, they caution that continued volatility in global markets may keep precious metal prices unpredictable in the coming days.