On Thursday, the price of gold in Pakistan experienced a significant drop, reflecting global market shifts after the outcome of the 2024 US presidential election. The local gold market saw a sharp decline, with the price of 24-karat gold per tola falling by Rs5,400, bringing it down to Rs276,800. This price drop mirrors trends in the international gold market, where prices also experienced a sharp dip.
Along with the decline in gold’s price per tola, the price of 10 grams of 24-karat gold also saw a decrease of Rs4,630, settling at Rs237,311. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) confirmed these new figures, indicating a significant impact on gold traders and investors.
The international gold market echoed the same downward trend, with prices dropping by $65 to reach $2,662 per ounce. In addition to this, an extra premium of $20 was added, further influencing gold prices worldwide.
Silver prices were also affected by this global market shift. In Pakistan, the price of silver per tola fell by Rs130, now priced at Rs3,300.
This sharp decline in gold prices is being closely monitored by traders, investors, and consumers alike, as it represents a noticeable change in the precious metal’s market value following political events in the US. Experts suggest that market fluctuations are expected to continue as the political landscape evolves.
