Gold rates in Pakistan fell for the second consecutive day on Wednesday, following a dip in global gold prices. Analysts say the decline reflects both international market trends and fluctuations in the local currency.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold dropped by Rs1,000 per tola, bringing it down to Rs419,362. Similarly, 10 grams of 24-karat gold were sold at Rs359,535, down by Rs857 compared to the previous day. The price of 10 grams of 22-karat gold also decreased by Rs678, settling at Rs329,585.
On the international front, gold prices fell by $10 per ounce, reaching $3,970, driven by a strengthening global dollar and cautious investor sentiment. Experts note that global economic uncertainty and shifts in currency markets continue to impact gold rates in Pakistan.
Meanwhile, silver prices remained stable. The rate of 24-karat silver per tola stayed at Rs5,022, while 10 grams were sold for Rs4,305. Analysts said that silver continues to be less volatile than gold in the local market.
Investors are closely watching both domestic and international trends. Fluctuations in the interbank exchange rate and global demand for gold are expected to influence prices in the coming days. Market participants are advised to monitor these trends before making investment decisions.
Despite recent declines, gold remains a popular investment in Pakistan. Analysts highlight that gold rates are likely to remain sensitive to currency movements and global market conditions. Historically, gold is considered a safe-haven asset during periods of economic uncertainty.
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The latest drop in gold rates reflects broader market trends, signaling cautious sentiment among investors while maintaining long-term demand for precious metals in Pakistan.
