ISLAMABAD: Gold prices in Pakistan moved lower on Thursday, reflecting a downturn in both local and international markets. The price of 24-karat gold settled at Rs482,462 per tola, recording a decline of Rs3,700, according to figures released by the All-Pakistan Gems and Jewelers Sarafa Association.
Similarly, 24-karat gold per 10 grams traded at Rs413,633 after falling by Rs3,172, while 22-karat gold dropped to Rs379,177 per 10 grams.
Silver prices also weakened in the domestic market. Traders sold 24-karat silver at Rs9,425 per tola, down by Rs150, while the price per 10 grams declined by Rs129 to Rs8,080.
Market participants said buyers remained cautious as uncertainty in global markets influenced local sentiment. Despite the daily drop, data showed that gold prices remained higher on a monthly and fiscal year-to-date basis, indicating continued longer-term demand for the precious metal.
Global markets retreat as risk sentiment shifts
Internationally, spot gold traded near 4,603 dollars per ounce, down around 0.25 percent from the previous session as investors booked profits after recent record highs. Analysts attributed the pullback to a softer tone from President Donald Trump on Federal Reserve policy and easing tensions with Iran, which reduced short-term demand for safe-haven assets.
Later in the session, gold recovered slightly, with spot prices rising to 4,608.92 dollars per ounce by midday in Pakistan, according to Mettis Global.
February US gold futures declined by one percent to 4,587.70 dollars. Market analysts said investors adjusted their positions after Trump suggested that a military strike on Iran might not be imminent. He also signaled a wait-and-see approach on the future of Federal Reserve Chair Jerome Powell, which eased market anxiety.
Other precious metals followed the downward trend. Silver dropped sharply to 87.46 dollars per ounce after touching record levels earlier. Platinum slid to 2,282.90 dollars, while palladium fell to 1,766.25 dollars. Analysts noted that shifting risk sentiment and profit-taking continued to drive volatility across commodity markets.
