Gold Prices in Pakistan Fall for Fifth Straight Day Amid Global Market Decline
Gold prices in Pakistan continued their downward trend for the fifth consecutive day on Friday, reflecting broader softness in international bullion markets. The persistent decline has been attributed to global price corrections and shifting investor sentiment.
According to data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola dropped by Rs1,595, bringing it down to Rs357,000. Similarly, the price of 10 grams of 24-karat gold fell by Rs1,368, settling at Rs306,069.
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The dip in local prices mirrors developments in the international market, where the price of gold per ounce decreased by $16 to reach $3,356. Analysts note that the global correction comes amid reduced safe-haven demand and speculation about future interest rate trends.
Silver also experienced a decline in Pakistan, following the trend in precious metals. The price of a tola of 24-karat silver decreased by Rs24, now standing at Rs3,796, while the price for 10 grams dropped to Rs3,254.
Market watchers suggest that continued volatility in global economic indicators and fluctuations in the U.S. dollar could influence gold and silver prices in the days ahead. For now, investors and jewellers are closely monitoring developments for signs of price stabilization.
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