2 min read
In an unprecedented market shift, gold prices in Pakistan have plummeted to historic lows, recording the steepest single-day drop ever, while silver prices have shown a notable increase. The developments are linked to escalating tensions in the ongoing US-China tariff war, which has sent shockwaves through global commodity markets.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by a staggering Rs11,700, bringing the new price down to Rs352,000. The price of 10 grams of gold also saw a significant decrease of Rs10,031, now standing at Rs301,783.
The global gold market mirrored this downturn, with gold prices per ounce tumbling by $116, settling at $3,338. Market analysts suggest that investor sentiment has been rattled by the renewed economic uncertainty stemming from the US-China trade tensions.
In contrast, silver prices moved upward in both domestic and international markets. The price of 24-karat silver per tola in Pakistan increased by Rs16, reaching Rs3,457, while the rate for 10 grams rose by Rs13, now priced at Rs2,963. Globally, silver prices climbed by $0.16, trading at $32.93 per ounce.
