Gold prices in Pakistan fell for the second consecutive day on Wednesday, following a downward trend in the international market.
According to the All Pakistan Gems and Jewellers Association, the price of per tola gold decreased by Rs10,000 to Rs539,962. Similarly, the price of 10 grams of gold fell by Rs8,573, reaching Rs462,930 in the domestic market.
Internationally, gold also recorded losses, with the per-ounce rate dropping by $100 to $5,172. Analysts attribute the decline to global market pressures and currency fluctuations affecting bullion values.
In contrast, silver prices saw modest increases. The per tola rate of silver rose by Rs100 to Rs9,004, while 10 grams increased by Rs86 to Rs7,719. This highlights a divergence between precious metals, with silver gaining slightly as gold declines.
The previous day, per tola gold had dropped by Rs13,900 to Rs549,962, and 10 grams fell by Rs11,917 to Rs471,503. The consecutive decreases indicate continued volatility in both domestic and international gold markets.
Meanwhile, domestic LPG gas cylinder prices were reduced by Rs2.52 per kg. The Oil and Gas Regulatory Authority (OGRA) set the price of an 11.8 kg domestic LPG cylinder at Rs2,664 for March. These small reductions provide limited relief for consumers amid rising household costs.
Experts say gold prices are influenced by international demand, currency fluctuations, and global economic trends. Pakistani buyers and investors are advised to monitor market updates carefully before making purchases.
The continuing decline in gold prices provides opportunities for new buyers, though investors remain cautious given market uncertainties. Analysts suggest that short-term volatility in the bullion market may continue over the coming weeks.
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