Gold prices in Pakistan continued their downward trend on Thursday, mirroring losses in the international market. Investors and traders saw a slight dip in the value of gold per tola and per 10 grams, signaling cautious market sentiment.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola dropped by Rs600 to settle at Rs466,162. Meanwhile, 10-gram gold was sold at Rs399,658, down Rs515 from the previous day.

On Wednesday, gold had already declined by Rs1,200, closing at Rs466,762 per tola, reflecting ongoing volatility in the market. Analysts point out that fluctuations in the international market directly influence local prices, as Pakistan largely relies on imported gold.

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Global market impact

Internationally, gold prices slipped by $6, trading at $4,438 per ounce with a $20 premium. Market observers note that global uncertainties, including currency fluctuations and international trade trends, continue to pressure gold prices worldwide.

Silver prices also down

Silver did not remain untouched by the trend. Prices fell by Rs236, closing at Rs8,125 per tola, adding to the negative sentiment in the precious metals market. Traders suggest that while the drops are modest, they could influence buying behavior among investors and jewelers.

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Outlook

Experts predict that gold and silver prices may continue to fluctuate in the short term as international markets adjust. Investors are advised to monitor global cues and local rates before making purchase decisions.