Gold falls Rs3,100 per tola in Pakistan as international rate slips

Gold price per tola in Pakistan fell by Rs3,100 on Wednesday to Rs434,436, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), as the local market tracked a decline in the international price.

The association put the price of 10-gram gold at Rs372,458, a fall of Rs2,658 during the day. On Tuesday, the per tola rate had held at Rs437,536 with no change.

Internationally, the gold rate declined by $31 to $4,119 per ounce, the APGJSA data indicated. Silver also moved lower in the local market, falling Rs100 to Rs6,488 per tola.

Gold is a widely held savings and bridal asset in Pakistan, and local bullion rates are quoted by the association in line with movements in the international market. The decline recorded on Wednesday reflects that pass-through, with the metal giving back part of its recent gains.