All Pakistan Gems and Jewellers Association says new gold price has settled at Rs341,900 in local markets
KARACHI: (UrduPoint/Pakistan Point News-May 14th, 2025) The Gold prices on Wednesday witnessed a major decline in the local market, and offered some relief to buyers amid ongoing economic challenges.
All Pakistan Gems and Jewellers Association said the price of gold per tola dropped by Rs2,300, and settled at Rs341,900.
Similarly, the price of 10 grams of gold fell by Rs. 1,972, now standing at Rs. 293,124.
The decline in local gold rates mirrors the trend in the international market, where gold prices decreased by $23 per ounce, settling at $3,235.
The analysts attributed the drop to fluctuations in global demand, a stronger Dollar, and shifting investor sentiment. The local market also tended to respond to international trends, compounded by Currency exchange rates and economic conditions within Pakistan.
The drop in prices may spur increased activity in the gold market, particularly among investors and jewellers preparing for the upcoming wedding season.
