Karachi – Gold prices in Pakistan fell sharply on Thursday following a decline in international bullion rates, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).
The price of 24-karat gold per tola decreased by Rs2,800, bringing it down to Rs537,162. Similarly, 10 grams of 24-karat gold fell by Rs2,401, settling at Rs460,529. The 10-gram rate for 22-karat gold dropped by Rs2,201 to reach Rs422,166.
Market analysts said the drop in domestic gold prices closely followed trends in the international bullion market. Global gold prices slipped by $28 per ounce, closing at $5,144. Experts noted that fluctuations in international rates directly affect local gold prices due to import costs and exchange rate movements.
Silver prices in Pakistan also declined alongside gold. The price of silver per tola decreased by Rs194 to Rs8,810, while 10 grams of silver dropped by Rs166 to Rs7,553. On the international front, silver prices fell by $1.94, settling at $83.26 per ounce.
Traders said demand for gold remained steady despite the price drop, as buyers viewed the decline as an opportunity to invest. However, short-term market sentiment remained cautious due to global economic uncertainties and rising US dollar value.
The APSGJA advised consumers to monitor market trends closely before purchasing gold. Experts also suggested that gold investors consider both domestic price changes and international market movements when planning investments.
Despite the decline, analysts believe that gold prices may recover in the coming weeks if international bullion rates stabilize. Factors such as geopolitical tensions, inflation concerns, and global economic indicators are expected to influence the future direction of gold prices.
Investors and consumers are advised to follow updates from trusted sources and local market reports. Continued monitoring will help make informed decisions regarding buying, selling, or holding gold.
In other news read more about Gold Prices Fall By Rs10,000 Per Tola in Pakistan
Overall, the recent fall in Gold prices highlights the strong connection between domestic and international markets, emphasizing the need for cautious investment strategies.
