Gold Prices Decline in Pakistan and India Amid Global Drop

Gold prices decreased in Pakistan on September 5, with 24-karat gold per tola falling by Rs3,600 to Rs465,536.

The price of 10 grams of 24-karat gold dropped by Rs3,086 to Rs399,122, and 10 grams of 22-karat gold fell by Rs2,829 to Rs365,875. These declines align with a drop in the international market, where gold prices fell by $36 to $4,430 per ounce. Silver prices also saw a decrease, with per tola silver dropping by Rs63 to Rs7,098 and 10 grams falling by Rs54 to Rs6,085.

Internationally, silver declined by $0.63 to $66.19 per ounce. In India, gold rates also dipped on September 5. This rise followed an increase in international gold prices by $39 per ounce to $4,466. Silver prices in Pakistan had also increased on September 4, with per tola silver rising by Rs117 to Rs7,161. Over the two days prior to September 5, gold rates in Pakistan had increased by Rs15,100 per tola.

These price movements occurred amid continued geopolitical uncertainty and ongoing tensions in the Middle East. Investors also monitored developments related to interest rates and US nonfarm payrolls data.