KARACHI: Gold prices declined in both international and domestic markets today, following a mixed trend in global bullion trading. In the international market, gold dropped by $19 per ounce, settling at $4,195. The decline came after a brief rally earlier in the week, as investors monitored the US Federal Reserve’s policy decisions and anticipated potential interest rate adjustments.
Reflecting the global trend, domestic gold prices in Pakistan also saw a reduction. The per tola rate of gold fell by Rs1,900, reaching Rs441,862, while the price of 10 grams decreased by Rs1,629 to Rs378,825, according to the All Pakistan Sarafa Gems and Jewellers Association (APGJSA). In contrast, silver prices remained stable, with per tola silver steady at Rs6,102 and 10 grams priced at Rs5,231.
Spot gold in the international market recorded a rise of 0.47% to $4,208.39 per ounce by 0920 GMT, while US gold futures for February delivery climbed 0.48% to $4,237.80 per ounce. Silver prices in the global market also saw a 1.17% increase, reaching $58.80 per ounce, showing resilience compared to gold amid fluctuating investor sentiment.
Earlier on Monday, gold prices in Pakistan had increased, mirroring international gains as traders anticipated the Fed’s policy outcome. The domestic gold per tola rate rose by Rs1,600 to Rs443,762, while the 10-gram price increased by Rs1,372 to Rs380,454. The recent volatility follows a dip over the weekend when gold prices fell to Rs442,162 per tola.
Analysts note that gold prices continue to be influenced by global economic indicators, currency fluctuations, and investor expectations regarding US monetary policy. A subdued dollar amid speculation of an interest rate cut has previously supported bullion demand, driving prices upward. Conversely, recent declines reflect profit-taking and cautious sentiment in the market.
Market observers advise investors to monitor global trends closely, as precious metals remain sensitive to policy shifts and economic developments. The current fluctuation highlights the importance of tracking both international benchmarks and domestic rates for informed investment decisions in Pakistan’s gold and silver markets.
This latest movement underscores the ongoing volatility in precious metals, with gold showing declines while silver maintains stability, providing traders with a mixed outlook for short-term investment strategies.
