Gold buyers in Pakistan woke up to a second straight day of lower prices on Friday as the local market mirrored a sharp drop in global bullion rates.

The All Pakistan Sarafa Association (APSA) announced a Rs 500 cut in the retail price of 24-karat gold, bringing the new per-tola rate to Rs 459,936 on Friday, 13 June 2025. The decrease follows a $5 per ounce decline in international spot prices overnight, which APSA said it passed on to local buyers without delay.

The cut is the second in as many days after APSA shaved Rs 300 off the price on Thursday. Traders told Naya Pakistan that the rapid price adjustment reflects unusually high liquidity in the global gold market and a stronger US dollar, which together pushed bullion futures lower overnight.

  • 24-karat gold: Rs 459,936 per tola (down Rs 500)
  • 22-karat gold: Rs 425,000 per tola (down Rs 450)
  • Silver: Rs 2,500 per tola (up Rs 50)

APSA’s Karachi-based price committee sets the daily rates at 10:30 a.m. after reviewing the London Bullion Market Association (LBMA) afternoon fix and overnight futures on the COMEX exchange in New York.

Why did gold fall so fast?

The drop tracks a $5 per ounce fall in COMEX gold futures on Thursday evening, which carried over into Asian trading on Friday. Analysts at local brokerages said the move was driven by a stronger US dollar index and expectations that the US Federal Reserve may cut interest rates sooner than previously forecast.

Gold is typically priced in dollars, so a stronger greenback makes the metal more expensive for buyers holding other currencies and tends to push prices down. At the same time, lower real interest rates reduce the opportunity cost of holding non-yielding bullion, which can support prices—but in this case, the dollar effect dominated.

How the local cut breaks down

APSA’s price committee meets daily at the Karachi Sarafa Association office to set the opening rates. The committee uses the LBMA’s 3 p.m. London fix as the base and then adjusts for the rupee-dollar exchange rate and local demand-supply conditions.

On Thursday, the committee had already trimmed Rs 300 after the LBMA fix fell by $4 per ounce. On Friday, the additional Rs 500 cut came after the LBMA fix dropped another $5 and the Pakistani rupee strengthened slightly against the dollar.

  • LBMA fix (Thursday): $2,340 per ounce → $2,336 per ounce (Friday)
  • USD/PKR (Thursday close): 278.85 → 278.60 (Friday open)

What this means for you

If you’re planning to buy gold jewellery, coins or bars, today is cheaper than yesterday. A typical 10-tola set that cost Rs 4.6 million on Thursday now costs Rs 4.59 million—a saving of Rs 5,000 on the spot price alone. Wedding season shoppers and investors who track daily rates will notice the difference immediately.

Investors who hold gold ETFs or digital gold should see their portfolios reflect the lower spot price by the market close on Friday. Brokers said the price drop could also ease pressure on the yellow metal in the coming sessions if the dollar remains firm and US rate-cut bets firm up.

Watch out for these next moves

- Weekend trading: Global markets are closed Saturday and Sunday, but APSA will still publish a provisional rate on Saturday morning based on the latest LBMA fix and currency movement.
- Eid jewellery demand: Local jewellers expect a pickup in buying ahead of Eid-ul-Adha in late June. If global prices stay flat or fall further, bargain hunters could see even lower rates next week.
- Fed meeting: The US Federal Reserve’s policy decision on 16 July 2025 will be the next major catalyst. Any hint of a sooner-than-expected rate cut could lift gold prices globally.
- Import duty: The federal customs duty on gold remains unchanged at 10% plus 17% GST. Any change in duty would require a federal budget announcement, which is not expected until June 2026.

Where to check the latest rate

APSA updates its daily rates on its official website and via SMS to registered jewellers. You can also check:
- APSA website: https://www.apsa.org.pk
- Karachi Sarafa Association: +92-21-3221-1001
- Lahore Sarafa Association: +92-42-3723-3000

If you’re selling old gold, expect a lower offer from your local jeweller because they typically buy at a discount to the APSA rate to cover melting and assaying costs.

Quick tips for gold buyers

- Compare rates: Call two or three jewellers before buying; margins can vary.
- Check hallmarking: Ensure the jewellery carries a BIS or HUID hallmark for purity.
- Ask for a bill: Always get a receipt with the gold weight, purity and making charges.
- Watch the dollar: If the rupee weakens suddenly, local prices can rebound quickly.

Gold remains one of the most liquid assets in Pakistan, but daily price swings can be sharp. Buyers who track the APSA rate each morning can time their purchases to the best available price.

APSA’s next scheduled price announcement is at 10:30 a.m. on Saturday, 14 June 2025.