Slight Decline in Domestic Gold Market
The price of gold in Pakistan recorded a modest decline on Saturday, mirroring the downward movement in international markets. According to the All Pakistan Sarafa Gems and Jewellers Association, the rate of 24-karat gold dropped by Rs600 per tola, bringing the new price to Rs422,462.
Similarly, the price of 10 grams of 24-karat gold decreased by Rs514, now selling at Rs362,193. For 22-karat gold, 10 grams were priced at Rs332,022, showing a fall of Rs471 compared to the previous day.
Experts attribute the dip to global market fluctuations, where investors are showing caution amid a stronger dollar and economic uncertainty.
International and Silver Market Trends
In the international market, the price of gold fell by $6, settling at $4,001 per ounce. This consistent decline is being driven by strengthening global currencies and reduced demand from investors seeking safer assets.
Following gold’s movement, silver prices also registered a decrease. The rate of 24-karat silver per tola dropped by Rs18, reaching Rs5,094, while 10 grams of silver were sold for Rs4,367.
Traders expect the local bullion market to remain volatile in the coming days, influenced by global economic signals and currency exchange fluctuations. Investors are advised to monitor international trends closely before making purchasing decisions.
