Gold prices in Pakistan witnessed a notable decline on Thursday, mirroring the downward trend observed in the international market. The per tola price of gold in the local market dropped by Rs2,000, settling at Rs353,000 by the end of the day’s trading session.
According to the latest figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of gold also experienced a downward adjustment, falling by Rs1,714 to reach Rs302,641.
This dip in domestic gold rates came just a day after a minor increase was recorded. On Wednesday, the gold price per tola had climbed to Rs355,000 following a modest gain of Rs300 during the day.
The current decline in local gold prices is closely linked to changes in the international bullion market. As per the data shared by APGJSA, the global price of gold fell by $20 on Thursday, reaching $3,303 per ounce. This figure includes a premium of $20 over the base rate.
The dip in international prices comes amid shifting investor sentiment, fluctuations in the dollar, and changing expectations regarding interest rates, all of which influence the global precious metals market.
In addition to gold, the price of silver also saw a reduction during the day. The rate of silver per tola decreased by Rs63, closing at Rs3,900. This parallel drop in silver prices reflects a broader market correction in precious metals across both domestic and international markets.
Analysts suggest that price volatility in the gold and silver markets is likely to continue in the short term, influenced by global economic indicators, geopolitical developments, and investor behavior.
Jewelers and investors in Pakistan are advised to keep a close eye on international trends, which have a direct impact on local pricing through adjustments in demand, supply, and currency exchange rates.
