KARACHI: Gold prices in Pakistan witnessed a significant decline on Thursday, following a downward trend in the global bullion market. According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs5,200, bringing it down to Rs493,762 in the local market.
Similarly, the price of 10-gram gold dropped by Rs4,458 to settle at Rs423,321, reflecting the impact of declining international rates on domestic pricing. The previous day had already seen a decrease, with gold per tola recorded at Rs498,962 after a drop of Rs1,200, indicating continued volatility in the market.
In the international market, gold prices declined sharply by $52 per ounce, reaching $4,714 with an additional premium of $20. Market analysts attribute the decline to shifting investor sentiment, fluctuations in the US dollar, and expectations regarding global interest rates, which often influence bullion demand.
Meanwhile, silver prices in Pakistan also followed the downward trend. The price of silver per tola dropped by Rs225, settling at Rs8,099. The decline in both gold and silver prices is seen as a reflection of broader global commodity market movements.
Experts suggest that while the current drop may offer short-term relief to buyers, the precious metals market remains highly sensitive to international economic developments. Investors are closely monitoring global trends to assess future price movements, as gold continues to be considered a safe-haven asset during times of economic uncertainty.
