KARACHI: The price of 24-karat gold in Pakistan was reported at Rs410,000 per tola on Monday, 2 November, following a sharp decline towards the end of October.
According to the daily rate listing published by Hamariweb, which attributes its figures to the All Pakistan Gems and Jewellers Sarafa Association, the price was unchanged from the rate recorded on 31 October.
The reported price for 10 grams of 24-karat gold stood at Rs351,510, while 22-karat gold was listed at Rs375,931 per tola.
The figures indicate that domestic gold prices remained below their levels from the previous week.
Gold loses Rs11,000 per tola
The same rate history shows that 24-karat gold was priced at Rs421,000 per tola on 29 October.
It subsequently fell to Rs417,500 on 30 October and Rs410,000 on 31 October.
That represents a decline of Rs11,000 per tola, or approximately 2.6%, over the period.
The rate had been higher earlier in the week, reaching Rs422,700 per tola on 28 October, according to the tracker.
Although Monday’s listing showed no further change, the latest reported price remained substantially below those late-October levels.
What buyers should know
Gold prices are closely followed in Pakistan by jewellery buyers, investors and households planning wedding-related purchases.
The benchmark rate for 24-karat gold is commonly used to track movements in the domestic bullion market.
However, the amount paid for finished jewellery can differ from the published metal rate because of making charges, design costs and other retailer-specific expenses.
Prices also vary according to purity. Gold sold as 22-karat contains a lower proportion of pure gold than 24-karat metal and therefore carries a lower benchmark price.
The latest reported rates offer a snapshot of the market rather than a guaranteed retail selling price.
As gold prices can change during the trading day, buyers should confirm the prevailing rate and any additional charges with their jeweller before making a purchase.