Gold prices in Pakistan fell once again today, following a brief surge earlier in the week. The decline mirrors a drop in international rates, driven by shifts in global currency strength and cautious investor sentiment.
Local Market Update
According to market data, the price of 24-karat gold declined by Rs1,000 per tola, reaching Rs418,862. Similarly, the rate of 10 grams of 24-karat gold decreased by Rs857, settling at Rs359,106.
The price of 22-karat gold also fell, with 10 grams now being sold at Rs329,300, marking a reduction of Rs678 from the previous session. These adjustments come after a day of sharp gains, highlighting the ongoing volatility in the precious metals market.
International Market Trends
On the global stage, gold prices slipped by $10, bringing the rate to $3,965 per ounce. Analysts attribute this steady decline to the strengthening of major world currencies and reduced investor demand for safe-haven assets amid shifting economic expectations.
The recent performance reflects a cautious global outlook, where investors are balancing between inflation concerns and stronger currency trends.
Silver Prices Hold Steady
Unlike gold, silver prices remained stable. The rate for 24-karat silver per tola held firm at Rs5,034, while 10 grams of silver were priced at Rs4,315. The unchanged rate suggests limited movement in silver demand compared to the gold market’s fluctuations.
Market Outlook
Experts believe that ongoing fluctuations in the interbank exchange rate and uncertain global demand will continue to shape gold prices in Pakistan. The local market remains highly sensitive to international shifts, as traders closely monitor developments in currency values and central bank policies.
As global markets remain unpredictable, gold investors are likely to maintain a cautious stance in the coming days. Market observers suggest that any significant moves in the dollar index or international interest rates could further influence the direction of gold prices.
