KARACHI: Gold prices in Pakistan witnessed a notable decline on Friday, reflecting a downward trend in the international bullion market. In the local market, the price of gold per tola dropped by Rs.2,900, settling at Rs490,862, according to data released by the All Pakistan Gems and Jewellers Sarafa Association.
Similarly, the price of 10-gram gold decreased by Rs2,486, bringing it down to Rs420,835. The latest drop follows a significant decline recorded a day earlier, when gold prices fell by Rs5,200 per tola, closing at Rs493,762. Market analysts attribute this consistent downward movement to fluctuations in global gold rates and changing investor sentiment.
On the international front, gold prices fell by $29 per ounce, reaching $4,685 with an added premium of $20. The global market continues to influence domestic bullion rates, as Pakistan relies heavily on international pricing trends due to its import-based gold supply chain. A stronger US dollar and shifting expectations around global interest rates are often cited as key factors impacting gold prices worldwide.
Traders in major cities like Karachi and Lahore reported reduced buying activity as consumers adopt a cautious approach amid price volatility. Jewelers noted that while lower prices may attract buyers, uncertainty in the market is keeping demand relatively subdued.
In addition to gold, silver prices also experienced a decline in the local market. The price of silver per tola fell by Rs142, settling at Rs7,957. Analysts suggest that silver often follows gold’s trajectory, although industrial demand also plays a role in determining its price movements.
Experts believe that gold price trends in Pakistan will remain closely tied to global economic indicators, including inflation rates, currency fluctuations, and geopolitical developments. Any further changes in international markets are expected to directly impact local bullion rates in the coming days.
Investors and consumers are advised to monitor daily gold rate updates, as continued volatility may present both risks and opportunities in the precious metals market.
