Gold prices in Pakistan witnessed another decline on Thursday, in line with the downward trend in the international bullion market.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs. 3,500, settling at Rs. 433,862.
Similarly, the price of 10 grams of gold dropped by Rs. 3,001, closing at Rs. 371,966.
Consistent Decline This Week
This marks the second consecutive day of significant decline in local gold prices.
On Wednesday, gold rates had already fallen by Rs. 7,538 per tola, reaching Rs. 437,362.
Jewellers attributed the fall to fluctuating global trends and a stronger Pakistani rupee, which has slightly stabilized against the US dollar.
Global Gold Market Trends
In the international market, gold prices also dipped today.
As per APGJSA, the global rate stood at $4,115 per ounce, reflecting a loss of $35 with a premium of $20.
Meanwhile, spot gold was down 0.2% at $4,084.29 per ounce as of 0310 GMT, while US gold futures for December delivery edged higher by 0.9%, reaching $4,100.90 per ounce.
The decline was driven by a stronger dollar as investors awaited key US inflation data expected later this week, which could influence the Federal Reserve’s interest rate policy.
Silver Prices Remain Stable
Unlike gold, silver prices held steady, with the price per tola unchanged at Rs. 5,110.
Analysts note that silver demand remains relatively balanced, supported by industrial usage and limited speculative pressure.
Outlook for Gold Investors
Market analysts suggest that the short-term outlook for gold remains cautious, as global investors closely monitor inflation trends and central bank policies.
Local jewellers advise potential buyers to watch for further currency shifts and international spot rate changes before making investment decisions.
