Gold prices continued their downward trend in Pakistan’s domestic market on Wednesday, following a decrease in global rates.
According to the All Pakistan Gems and Jewellers Association, the price of gold per tola fell by Rs1,400, reaching Rs355,200. Similarly, the rate for 10 grams of gold dropped by Rs1,201 to Rs304,526.
The decline mirrors international trends, where gold per ounce decreased by $14, settling at $3,325. Analysts said the drop reflects easing global inflation and stronger economic data from key markets.
A day earlier, gold prices had already fallen. The rate per tola decreased by Rs1,100 to Rs356,600, while 10 grams of gold dropped by Rs943 to Rs305,727. Internationally, gold had also dipped by $11 to $3,339 per ounce.
Market experts noted that the continued fall in gold rates is partly due to improving economic indicators, which reduce demand for safe-haven assets like gold. “Investors are shifting funds to equities and other high-return options,” said a local analyst.
Meanwhile, the Pakistan Stock Exchange (PSX) gained momentum amid the easing inflation, reaching an all-time high. The benchmark KSE-100 index crossed 151,000 points for the first time in history on Wednesday, highlighting increased investor confidence.
Jewellers advised buyers to monitor the market closely. “Fluctuations in gold rates are normal, and customers should buy only after careful consideration,” stated a spokesperson from a leading jewellers’ association.
With both domestic and international markets showing a declining trend, investors and traders are keeping a close eye on economic updates. Analysts predict that gold rates may stabilize if global markets show consistent signs of growth.
In other news read more about Gold Prices Drop Rs1,100 per Tola in Pakistan – Check Latest Rates
