KARACHI – Gold prices in Pakistan fell sharply on Thursday, following a downward trend in the international market.
According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold decreased by Rs5,000 per tola, reaching Rs426,562. Meanwhile, 10 grams of gold dropped by Rs4,286 to Rs365,708.
The recent decline comes after several sessions of gains. Gold prices had risen previously due to geopolitical risks, slowing global economies, and increased purchases by central banks. Expectations of potential reductions in US interest rates had also supported higher gold prices.
Despite Thursday’s drop, experts remain optimistic. Global financial institution Morgan Stanley predicts gold prices could reach new highs in the coming years, driven by continued economic uncertainty and demand from central banks.
Just a day earlier, the price of one tola of gold in Pakistan had increased by Rs7,900, reaching Rs431,562. The price of 10 grams of gold also surged by Rs6,773 to Rs369,995.
Local jewelers noted that fluctuations in gold prices often reflect global economic factors. Traders in Karachi reported lower buying activity on Thursday, citing the sudden price drop as a factor.
Investors continue to monitor gold prices closely, as the precious metal remains a popular hedge against inflation and currency fluctuations in Pakistan.
In other news read more about Gold Prices Jump by Rs7,900 per Tola in Pakistan
With international market trends influencing domestic prices, gold continues to be a sensitive indicator for both traders and consumers in the country.
