Gold prices in Pakistan fell on Wednesday, losing Rs. 2,500 in market value, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The price of gold per tola declined to Rs. 456,962, while the price of 10 grams of gold fell by Rs. 2,143, reaching Rs. 391,771.
The drop continues a recent downward trend. On Tuesday, gold prices had already seen a sharp fall, with the per tola rate decreasing by Rs. 10,700, settling at Rs. 459,462. Analysts note that the local market is closely following international price movements and economic factors.
Internationally, gold prices slipped by $25, reaching $4,346 per ounce, including a $20 premium. The decline in global gold rates has directly influenced the local market, contributing to the fall in gold prices in Pakistan. Traders are attributing the decrease to changes in global demand and fluctuations in currency exchange rates.
Silver prices also moved lower in the domestic market. The price of silver per tola dropped by Rs. 212, settling at Rs. 7,718. This decline follows the general trend of precious metals worldwide, reflecting investor caution amid global market volatility.
Experts suggest that while gold prices have dropped, the market may stabilize depending on international trends and local economic conditions. Investors are advised to monitor price movements closely before making purchasing decisions.
The recent decline in gold and silver provides opportunities for long-term buyers, but short-term traders may need to exercise caution. Analysts believe that market fluctuations are part of broader economic adjustments, and future gold prices will depend on global demand, currency rates, and economic policies.
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Overall, the drop in gold prices signals both caution and opportunity for investors, with careful monitoring recommended to make informed investment decisions in Pakistan’s precious metals market.
