KARACHI – Gold prices recorded a noticeable decline on the last working day of the week, reflecting trends seen in both local and global markets.
According to data released by the All Pakistan Saraffa Association, the price of one tola of gold fell by Rs. 1,600, bringing the new rate to Rs. 422,562. Similarly, the price of 10 grams of gold dropped by Rs. 1,372, now standing at Rs. 362,278.
| Gold Type | Price Cut | New Price |
|---|---|---|
| 1 Tola Gold | Rs. 1,600 | Rs. 422,562 |
| 10 Grams Gold | Rs. 1,372 | Rs. 362,278 |
In the international market, gold also faced a decline. The global price of gold fell by $16 per ounce, settling at $4002. Alongside this, silver rates dropped as well, with one tola of silver decreasing by Rs. 65, reaching Rs. 5,127.
Market experts attribute the latest fall in gold prices to several key factors, including reduced global demand and changing trends in the international bullion market. Uncertainty in major economies and fluctuations in the U.S. dollar have also influenced investor sentiment, leading to corrections in precious metal prices.
Analysts further noted that while gold prices have fallen, the overall market remains volatile. Investors are closely monitoring upcoming economic data and global geopolitical developments that could affect future price movements.
In other news read more about Global Gold Demand Hits Record High Amid Rising Geopolitical Tensions
Despite the short-term dip, gold continues to serve as a safe-haven asset for investors, especially during times of inflation and currency instability. Experts advise potential buyers to keep a close watch on market trends before making major investment decisions in the coming weeks.
