The gold price in Pakistan fell for the second consecutive day on Wednesday, following declines in global markets.
According to the All Pakistan Sarafa Gems and Jewellers Association, 24-karat gold dropped by Rs1,000 per tola, reaching Rs419,362. The price of 10 grams of 24-karat gold decreased by Rs857, settling at Rs359,535. Similarly, 10 grams of 22-karat gold were sold at Rs329,585, down Rs678 from the previous day.
The fall in gold price mirrors international trends. Global gold rates declined by $10, reaching $3,970 per ounce. Analysts attribute the decrease to strengthening global currencies and cautious investor sentiment worldwide.
Silver prices, however, remained stable. The rate for 24-karat silver per tola stayed at Rs5,022, while 10 grams were sold at Rs4,305, unchanged from the previous session.
Experts say fluctuations in the interbank exchange rate continue to influence local gold price movements. Uncertainty in global demand for precious metals is also contributing to the downward trend.
Investors in Pakistan are closely monitoring both international gold markets and local currency movements. Analysts suggest that short-term volatility may continue as global economic conditions remain uncertain.
The ongoing decline in the gold price has prompted buyers to reassess investment decisions. Jewelry makers and investors are particularly attentive to changes in 22-karat and 24-karat rates, as these directly affect trade and retail pricing.
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With international markets signaling cautious sentiment, the local gold market is expected to remain sensitive to global cues. Traders advise monitoring both foreign exchange rates and international precious metal trends before making purchases or sales.
