24-karat Gold Drops By Rs1,800 Per Tola In Pakistan

Abdullah Hussain (@Abdulla99267510) Published May 09, 2025 | 06:35 PM

New price of gold settles at Rs350,900 in local markets of Pakistan

KARACHI: (UrduPoint/UrduPoint / Pakistan Point News-May 9^th, 2025) The gold prices in Pakistan continued their downward trend on Thursday as the local markets responded to a dip in international rates and reduced demand ahead of the summer wedding season.

The All Pakistan Gems and Jewellers Association said that the price of 24-karat gold per tola dropped by Rs1,800 and settled at Rs350,900.

Similarly, the price of 10 grams of gold decreased by Rs1,543, now priced at Rs300,840.

This decline comes in line with a global decrease in gold rates. In the international market, gold fell by $18 per ounce, bringing the current price to $3,325 per ounce.

The market analysts suggested that a combination of factors—including a stronger rupee, lower international demand, and expectations of stable interest rates—has contributed to the drop in gold prices. Traders also note a seasonal slowdown in domestic gold purchases, particularly as Eid festivities have passed and wedding-related buying has momentarily eased.

Despite the drop, the gold remains near record highs in local Currency terms due to the cumulative impact of inflation and rupee devaluation over the past year.