Gold Rates Fall in Pakistan as Global Market Weakens, Buyers Stay Cautious
Gold prices in Pakistan moved lower on Thursday, following a soft trend in the international bullion market, prompting caution among investors and buyers.
In the local market, the price of gold per tola fell by Rs600, settling at Rs466,162. At the same time, the rate of 10 grams of gold dropped by Rs515 to Rs399,658, according to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Enable This WhatsApp Security Option to Stay Safe From Online Scammers
WhatsApp has quietly introduced a powerful privacy option designed to…
New Domestic Airline Launches Daily Flights Linking Quetta and Multan
Pakistan’s domestic aviation sector has received a fresh boost as…
Gold Smashes Records at $5,300 an Ounce, Market Cap Crosses $35 Trillion
Gold has reached a historic milestone after climbing above $5,300…
This decline came a day after gold had already faced a sharp correction. On Wednesday, prices slipped by Rs1,200 per tola, closing at Rs466,762, reflecting continued volatility in the market.
On the global front, international gold prices also edged down, losing $6 to trade at $4,438 per ounce, including a $20 premium. Analysts say global interest rate expectations and profit-taking are putting pressure on bullion prices worldwide.
Meanwhile, silver also followed the downward trend in Pakistan. The price of silver fell by Rs236, closing at Rs8,125 per tola.
Market observers expect gold prices to remain range-bound in the short term, with movements closely tied to global economic signals and investor sentiment.
