Gold prices in Pakistan continued their downward trend for the third straight day, reflecting declines in both local and international bullion markets. The drop followed easing geopolitical tensions after the extension of a ceasefire between the United States and Iran.
In the global market, gold prices fell by $12 per ounce, bringing the rate down to $4,766 per ounce. Consequently, domestic prices also adjusted downward. In local markets, the price of gold per tola decreased by Rs. 1,200, settling at Rs. 498,962.
Similarly, the price of 10 grams of gold dropped by Rs. 1,029, reaching Rs. 427,779. This marks a notable shift from the previous day, when gold was priced at Rs. 500,162 per tola. Analysts suggest that improved geopolitical stability often reduces demand for safe-haven assets like gold, leading to price corrections.
Meanwhile, silver prices also followed a similar trend. The per tola price of silver declined by Rs. 34, bringing it down to Rs. 8,324. Market observers note that precious metals typically move in tandem during periods of reduced uncertainty.
Furthermore, traders indicated that global sentiment played a key role in the latest decline. As tensions ease, investors tend to shift toward riskier assets, decreasing demand for bullion.
However, experts caution that market volatility may persist, depending on future geopolitical developments and economic indicators. Consequently, investors continue to monitor global cues closely.
Overall, the continued decline highlights the strong link between international developments and local commodity pricing trends.
