KARACHI: Gold prices in Pakistan declined on Thursday, August 13, ending a recent period of gains. The drop came as international bullion prices faced pressure amid ongoing geopolitical uncertainty.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), 24-karat gold became cheaper in the local market. The price dropped by Rs3,500 per tola to Rs460,436.
The price of 24-karat gold also declined on a 10-gram basis. It fell by Rs3,001 to Rs394,749. The previous session recorded the 10-gram price at Rs397,750.
The latest movement shows that gold prices fall after several sessions of increases. Local bullion rates continue to respond to changes in international gold prices.
In the international market, the APSGJA reported gold at $4,380 per ounce. Global market movements remain an important factor behind changes in domestic gold prices.
Silver Prices Also Decline
Silver prices also recorded a decline in Pakistan on Thursday. The price of silver fell by Rs175 per tola.
It dropped from Rs7,111 to Rs6,936 per tola. The decline followed the weaker movement seen in the local bullion market.
Geopolitical Uncertainty Affects Markets
Investors are closely watching developments in the Middle East. Iran and the United States remain divided over efforts to end the conflict.
A senior Iranian source said there was no progress in recent discussions. The talks aimed to revive an interim agreement reached in June.
The sides are also seeking a timeline for implementing the agreement. However, disagreements have continued to affect hopes for a lasting resolution.
US President Donald Trump has also renewed criticism of Iran’s leadership. His comments came after fresh attacks on shipping in the region.
The developments have increased uncertainty across global markets. Investors are therefore monitoring geopolitical risks and their possible impact on commodities.
Oil Prices Also Under Pressure
Oil prices declined on Thursday as investors assessed global demand prospects. Markets also considered expectations of higher US crude inventories.
However, oil prices remained supported by continued uncertainty around the Strait of Hormuz. Ongoing supply disruptions also provided some support to crude prices.
Market movements in oil and other commodities can influence investor sentiment. They can also affect expectations surrounding inflation and economic growth.
Gold is widely viewed as a safe-haven asset during uncertain periods. Investors often turn to gold when geopolitical or economic risks increase.
Its price can also react to changes in inflation expectations and interest-rate outlooks. Global risk sentiment remains another important factor.
For Pakistan’s bullion market, international price movements remain closely watched. Exchange rate changes and local demand can also influence domestic rates.
The latest decline means gold prices fall in Pakistan after their recent upward trend. Investors and consumers will continue watching global developments for further direction.
Market participants are particularly focused on geopolitical developments and global economic signals. These factors could influence gold prices in the coming sessions.
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For now, the local bullion market remains sensitive to international movements. Traders are expected to monitor both global gold prices and geopolitical developments closely.
