Gold prices in Pakistan have fallen sharply, bringing relief to local buyers and investors. According to the All Pakistan Gems and Jewellers Association (APGJA), the rate of 24-karat gold now stands at Rs. 431,862 per tola, while 10 grams of 24-karat gold are priced at Rs. 370,252.
Experts say the decline is linked to a drop in international gold prices, which are hovering around $2,410 per ounce, along with the strengthening of the Pakistani rupee against the dollar.
Traders believe the downward trend could boost jewelry demand ahead of the winter wedding season, as many consumers had postponed purchases due to record-high rates earlier this month.
Market analysts, however, advise caution, noting that global economic uncertainty could cause gold prices to fluctuate again in the coming weeks.
