Gold prices in Pakistan started the new week on a lower note, following a decline in the international bullion market. The latest drop comes as global precious metal prices remained under pressure, leading to lower rates in the local market as well.
According to the latest market data, the price of 24-karat Gold per tola fell by Rs2,300, bringing the new rate down to Rs428,936. The price of 24-karat gold per 10 grams also declined by Rs1,972, reaching Rs367,743.
The fall in local prices reflects the ongoing weakness in international bullion markets. Analysts said changes in global demand, investor sentiment, and economic conditions continue to influence the domestic Gold market in Pakistan.
In the international market, spot gold was trading at $4,061.35 per ounce, down 0.7% during the day. Meanwhile, US Gold Futures for August delivery dropped 0.5% to $4,076.40 per ounce.
Market data also showed that gold is heading toward its fourth consecutive monthly decline. Overall, the precious metal has lost 10.4% during the current month, reflecting weaker global market performance.
Other precious metals also recorded mixed trading. Silver prices declined by 1.1% to $58.51 per ounce. However, platinum gained 1.0% to reach $1,630.13 per ounce, while palladium rose 0.8% to $1,218.92 per ounce.
Despite the recent decline, market experts believe the outlook for Gold remains uncertain. They say prices could recover later this year if several global factors improve. These include easing geopolitical tensions, lower oil prices, cooling inflation, and a weaker US dollar.
Analysts noted that if these conditions develop, international gold prices could revisit the $5,000 per ounce level before the end of the year. However, they also warned that future price movements will depend heavily on global economic trends and geopolitical developments.
Investors continue to monitor inflation, interest rate expectations, and international conflicts, as these factors often influence demand for safe-haven assets like gold. Any major shift in global markets could quickly affect bullion prices.
In Pakistan, jewellers and investors are also watching international developments closely. Since local rates are linked to global bullion prices and currency movements, further fluctuations are expected in the coming weeks.
In other news read more about: Gold Falls in Pakistan as International Market Sees Another Decline
Experts believe Gold prices are likely to remain volatile in both international and Pakistani markets until global economic conditions become more stable. Buyers and investors are therefore advised to stay informed about market trends before making major purchasing or investment decisions.
