Gold crashes by Rs2,700 in Pakistan… investors left stunned 💔📉
Gold prices witnessed a noticeable decline in both international and local bullion markets on Friday, while silver moved in the opposite direction, recording a rise.
According to the international market trend, gold per ounce dropped by $27, bringing it down to $4,717. This global decline also impacted the local market in Pakistan.
As per the latest update from the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola in Pakistan fell sharply by Rs2,700, settling at Rs494,062. Similarly, the rate of 10 grams of gold decreased by Rs2,315, reaching Rs423,578.
Silver Prices Move Up Despite Gold Slump
In contrast to gold, silver prices continued their upward trend. The price of silver per tola increased by Rs80, reaching Rs8,525, while 10 grams of silver rose by Rs68 to Rs7,308.
In the global market, spot silver gained 2.3% to $80.31 per ounce. Other precious metals also showed mixed movement, with platinum rising 1.5% to $2,051.31, while palladium increased 1.5% to $1,503.77, though it still remained on track for a weekly decline.
Recent Trend in Gold and Silver Prices
The bullion market has remained highly volatile over the past few days. Earlier in the week, gold prices saw sharp fluctuations:
- Thursday: Gold surged by Rs7,800 per tola locally
- Wednesday: Another strong rise of Rs11,100 per tola
- Tuesday: A decline of Rs2,100 per tola
- Monday: A fall of Rs3,800 per tola
Silver prices also followed a mixed pattern during the week, moving up and down in response to global market shifts.
Market Outlook
Experts suggest that ongoing uncertainty in international markets continues to drive volatility in gold and silver prices in Pakistan. Investors are closely watching global economic signals as precious metals remain highly sensitive to market changes.
