Gold snaps its recent gaining streak in Pakistan’s domestic market on Thursday, following declines in global prices.
Data from the All Pakistan Gems and Jewellers Association showed that per tola gold price fell by Rs 3,700, settling at Rs 482,462. The 10-gram gold rate also dropped by Rs 3,172, reaching Rs 413,633.
The precious metal also faced pressure internationally, with gold per ounce declining by $37 to $4,601. Experts noted that easing geopolitical and trade tensions contributed to the dip.
Silver prices in Pakistan followed a similar trend. The per tola silver rate dropped by Rs 150 to Rs 9,425, while the 10-gram rate decreased by Rs 129 to Rs 8,080.
Analysts said the downward movement in gold and silver came after U.S. President Donald Trump made remarks suggesting a more cautious approach to global conflicts. Trump indicated that military action against Iran might be delayed and tariffs on key minerals could be postponed.
“At present, gold snaps its gains due to calmer geopolitical and trade conditions,” an analyst said. “Investors are reacting to the latest global developments.”
Trump also mentioned reports indicating fewer casualties from Iran’s protests crackdown. This cautious stance reassured global markets, reducing the demand for safe-haven assets like gold and silver.
The recent decline shows that precious metal prices are sensitive to international news and political developments. Traders in Pakistan expect that gold snaps gains when global uncertainty eases.
Market experts advise investors to monitor global cues, as gold and silver prices can rebound quickly if geopolitical tensions rise again.
Overall, Thursday’s trading marked a clear reversal for gold, as domestic rates mirrored international declines. Observers say the gold snaps pattern may continue in the short term depending on global developments.
In other news read more about: Gold Prices Fall in Local And International Markets
