Gold Prices Drop in Pakistan as gold and silver prices fell after reaching record highs, mirroring a global market correction.
The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported that 24-carat gold dropped by Rs4,100 per tola to Rs384,000, with 10 grams falling by Rs3,515 to Rs329,218. Silver followed, declining Rs36 per tola to Rs4,326 and Rs32 per 10 grams to Rs3,736.
Internationally, spot gold fell $36 to $3,618 per ounce, despite hitting $3,666.38 earlier, per Reuters. US gold futures for December rose 0.7% to $3,701.40. Bullion dealers cited a market correction and subdued local demand amid price volatility as reasons for the drop. On September 10, gold per tola had surged Rs4,100 to a record Rs388,100, with 10 grams up Rs3,514 to Rs332,733.
Read: Gold and Silver Prices Hold Steady at Record Highs in Pakistan for 2025
The earlier rally was fueled by expectations of a US interest rate cut in September 2025, weakening the dollar and Treasury yields. Investors await US inflation data this week, which could sway prices. Analysts expect ongoing global uncertainty to maintain strong demand for gold as a safe-haven asset.
The price drop offers a breather for buyers in Pakistan after record highs. Gold and silver remain key investments, reflecting economic trends. The market’s volatility underscores the need to monitor global financial cues, like US policy changes, for future price movements.
