KARACHI: Gold and silver prices fell sharply in both international and domestic markets Saturday, extending a volatile week for bullion.
In the international market, gold slipped $6 per ounce to $4,539. The All-Pakistan Gems and Jewellers Sarafa Association reported that in the local market, gold prices dropped by Rs600 per tola to Rs476,262, while 10 grams declined Rs515 to Rs408,317.
Silver also recorded steep losses, with per tola prices down Rs159 to Rs8,073 and 10 grams falling Rs136 to Rs6,921.
The declines followed Friday’s sharp drop, when international gold fell $155 to $4,545 per ounce. Domestically, gold per tola plunged Rs15,500 to Rs476,862, and 10 grams fell Rs13,289 to Rs408,832. Silver also weakened, with per tola down Rs972 to Rs8,232 and 10 grams off Rs833 to Rs7,057.
The week’s trading reflected heightened volatility. On Thursday, gold prices in Pakistan rose Rs1,000 per tola to Rs492,362, tracking modest gains in global markets as investors weighed geopolitical tensions involving the United States, Israel, and Iran, alongside diplomatic signals between Washington and Beijing.
A day earlier, gold had closed at Rs491,362 per tola after a Rs1,100 decline, while international spot gold held near $4,690 per ounce.
Analysts said the strengthening U.S. dollar index, which edged up 0.2% midweek, made dollar-denominated bullion more expensive for other currency holders, limiting upside momentum.
