In the global bullion market, gold slipped by $6 per ounce to settle at $4,001. The decline also affected Pakistan’s local market, where 24-karat gold dropped by Rs600 per tola, bringing the new price to Rs422,462.
Similarly, the price of 10 grams of 24-karat gold fell by Rs514, now being sold at Rs362,193.
According to the All Pakistan Gems and Jewellers Association, the drop in global prices has slightly reduced local demand as well. However, they warned that the dollar’s value and international market trends could further impact gold rates in the coming weeks.
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Economic experts say that signs of global economic stability and a minor recovery in the US dollar have put pressure on gold prices worldwide.
They added that while prices remained steady in recent days, the start of the new week has shown a clear downward shift.
Investors believe that if global markets continue to stabilize, gold prices may fall even further in the near future.
The latest fall in gold prices shows how global currency trends and investor sentiment directly affect Pakistan’s market. With the dollar gaining slight strength and demand easing, gold may continue to lose value. Buyers might see better opportunities ahead if the trend continues.
