KARACHI – Gold continued its downward trend on the first business day of the week in Pakistan, reflecting weakness in the international market.
According to the All Pakistan Gems and Jewellers Association, the per tola price of gold fell by Rs1,800, settling at Rs522,762. Similarly, the price of 10-gram gold declined by Rs1,543, reaching Rs448,184 in the local market.
The international gold market also showed bearish sentiment. The per-ounce rate of gold dropped by $18, hovering around $5,000. Experts say global geopolitical tensions and economic uncertainty are driving investors away from bullion assets.
The decline in gold coincided with a sharp drop at the Pakistan Stock Exchange (PSX). Rising tensions in the Middle East unsettled investors, pushing the benchmark KSE-100 Index down.
Within minutes of opening, the index fell nearly 1,500 points, reflecting broad-based selling across major sectors. By late morning, the KSE-100 was at 152,480, down 0.90% as traders reduced exposure amid uncertainty.
Key sectors such as automobile assemblers, cement manufacturers, commercial banks, and power generation companies experienced heavy losses. Leading stocks including HUBCO, INDU, LUCK, HBL, MCB, and MEBL were trading deep in the red, intensifying the market decline.
This drop adds to the recent struggles of the PSX. Last week, the KSE-100 Index lost 3,629.92 points, a 2.3% fall, closing at 153,866.17. Analysts attribute the persistent pressure to a mix of global geopolitical tensions, domestic security concerns, and macroeconomic uncertainty.
Investors are keeping a close watch on gold, as the precious metal remains a key safe-haven asset during market volatility. Traders suggest cautious buying until international and domestic conditions stabilize.
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Gold’s recent performance highlights its sensitivity to both global economic trends and local market conditions. Analysts advise monitoring the international bullion market for any early signs of recovery or further decline.
