Gold prices in Pakistan dropped on Wednesday (November 12), continuing a mixed trend in the local bullion market. According to the All-Pakistan Gems and Jewelers Sarafa Association, the rate of 24-karat gold fell by Rs1,000, closing at Rs434,762 per tola.
Similarly, the price of 24-karat gold per 10 grams declined by Rs857, settling at Rs372,738. The rate of 22-karat gold also moved lower, reaching Rs341,688 per 10 grams. Analysts say the decline reflects a correction following recent gains in the international market.
While gold prices fell, silver moved in the opposite direction. Domestic rates for 24-karat silver increased by Rs81 to Rs5,434 per tola and by Rs69 to Rs4,658 per 10 grams. The rise indicates stronger demand for silver among local buyers.
International factors influencing gold
On the global stage, gold prices eased slightly after reaching a near three-week high earlier this week. Spot gold was down 0.2 percent at $4,116.65 per ounce, pressured by a rebound in the US dollar and investor profit-taking.
Experts describe the decline as part of a natural correction following gold’s recent rally. The previous surge had been driven by market expectations of further interest rate cuts by the US Federal Reserve.
Tim Waterer, Chief Market Analyst at KCM Trade, said both gold and silver had benefited from a weaker dollar earlier in the week. He noted that “normal service has resumed,” with gold now stabilizing above $4,100 per ounce while awaiting fresh economic data that could influence the next market move.
Investors in Pakistan are closely watching these global trends, as fluctuations in exchange rates and US monetary policy continue to affect local bullion prices. With global uncertainty persisting, traders expect gold prices to remain volatile in the near term.
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