KARACHI: Gold prices in Pakistan declined sharply on Wednesday, mirroring a global dip, as conflicting economic signals kept the precious metal trading within a narrow band. In the local market, gold dropped by Rs3,400 per tola to settle at Rs.345,800, while the price of 10 grams fell by Rs2,915 to Rs296,467, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Internationally, gold prices fell by $34 to reach $3,276 per ounce, inclusive of a $20 premium. Silver also saw a dip, losing Rs70 per tola and closing at Rs3,427.
According to analysts, gold remains range-bound due to opposing market forces. "Currently, gold is trading between key support at $3,260–70 and resistance around $3,360–80," said Adnan Agar, Director at Interactive Commodities. "Until the market breaks out from this zone, we can expect continued sideways movement."
He noted that geopolitical tensions, such as strains in US-China trade or worsening India-Pakistan relations, could drive gold prices upward. On the other hand, any positive resolution of such issues might put downward pressure on gold.
In the financial sector, the State Bank of Pakistan (SBP) successfully raised Rs882.66 billion through two auctions on April 30, 2025, demonstrating robust investor interest in government securities.
In the Pakistan Investment Bond - Floating Rate (PFL) Semi-Annual Auction, the SBP accepted bids worth Rs320.66 billion—Rs93.05 billion for 5-year bonds and Rs227.61 billion for 10-year bonds. No bids were accepted for the 2-year bonds.
Meanwhile, in the Market Treasury Bills (MTBs) Auction, Rs562 billion was raised: Rs65.18 billion from 1-month bills, Rs151.66 billion from 3-month bills, Rs99.42 billion from 6-month bills, and Rs245.74 billion from 12-month bills.
In currency markets, the Pakistani rupee appreciated slightly against the US dollar, gaining 0.02% to close at 280.97 in the interbank market, compared to 281.02 on Tuesday.
Globally, the US dollar remained steady but faced its worst monthly performance since November 2022, pressured by unpredictable policy directions under President Trump, benefiting rival currencies like the euro and yen.
