KARACHI: Gold prices in Pakistan fell on Wednesday, mirroring a drop in international markets. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola decreased by Rs2,300 to reach Rs341,900. Similarly, 10-gram gold was priced at Rs293,124, down by Rs1,972 from the previous day.
On Tuesday, gold had experienced a sharp rise of Rs3,700 per tola, reaching Rs344,200. However, Wednesday’s decrease followed a global downtrend. Internationally, spot gold fell 0.4% to $3,234.32 per ounce, while US gold futures dropped 0.3% to $3,237.00. The APGJSA reported the global gold rate at $3,235 per ounce, with a $20 premium, down by $23 during the day.
The decline in gold prices is attributed to easing tensions in US-China trade relations. A new White House order reduced the “de minimis” tariff on low-value Chinese goods to 30%, boosting investor confidence and lowering demand for safe-haven assets like gold. Meanwhile, silver prices remained stable in the local market, standing at Rs3,482 per tola.
