Gold Prices Decline in Pakistan: Latest Updates for December

Gold Prices Decline in Pakistan Amid International Market Drop

Gold prices in Pakistan continued their downward trend on Friday, reflecting the global market’s decline. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), local gold rates experienced a notable drop, impacting both per tola and 10-gram prices.

Gold Prices in the Local Market

In the local market, the price of gold per tola fell by Rs2,000, bringing it to Rs271,300. Similarly, the rate for 10 grams of gold decreased by Rs1,715, settling at Rs232,596.

This decline follows Thursday’s drop of Rs2,600 per tola, marking a significant week for gold price fluctuations in Pakistan.

GOLD PURITY	PER TOLA	PER 10 GRAM
24K	Rs. 282,100	Rs. 241,855
22K	Rs. 258,658	Rs. 221,701
21K	Rs. 246,901	Rs. 211,624
20K	Rs. 235,144	Rs. 201,546
18K	Rs. 211,629	Rs. 181,392

International Gold Rates
Gold 24K Ounce	$ 2336

Gold Prices in the International Market

On the international front, gold prices also saw a decrease on Friday. APGJSA reported that the global rate of gold dropped by $20, bringing it to $2,601 per ounce. This price includes a premium of $20.

The international decline reflects broader market trends that are influencing local prices in Pakistan.

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Silver Rates Remain Stable

While gold prices saw a decline, silver rates in the local market remained stable. The price of silver per tola held steady at Rs3,350, showing no changes despite fluctuations in the gold market.

What’s Driving the Decline in Gold Prices?

The decrease in gold prices is largely attributed to shifts in the international market. Factors like currency fluctuations, global economic trends, and changes in investor sentiment are likely influencing these rates.

Gold, often considered a safe-haven asset, can see price volatility based on international demand and macroeconomic conditions.

Outlook for Precious Metals

As gold prices continue to decline, buyers and investors in Pakistan are keeping a close eye on the market. Whether this trend will persist depends on future international market conditions and local economic factors.

For silver investors, the stability in rates offers a potential alternative for those seeking to diversify their investments.