Gold prices in Pakistan experience volatility amid global market shifts

Gold prices in Pakistan have experienced significant volatility, fluctuating due to shifts in international bullion trends and local market conditions. Recent reports indicate periods of both decline and increase. In one session, 24-karat gold prices fell by Rs500 per tola to Rs459,936, following a larger drop earlier in the week. Conversely, other market movements saw prices rise by Rs2,000 per tola, reaching Rs461,936, driven by an increase in global gold prices to approximately $4,395 per ounce.

Local rates vary by city. In Peshawar, the selling rate reached Rs469,000, while Karachi reported selling prices around Rs453,200. Lahore showed varied rates depending on the specific gold type, with piece selling prices at Rs453,500.

While gold prices have faced corrections, the overall trend for August showed a strong rise in the first half of the month. In contrast to gold's volatility, silver prices remained firm in the local market, with the per-tola silver rate reported at Rs6,949.