KEY POINTS
- Gold price in Pakistan falls by Rs 1,200 per tola
- Global gold rate declines by $12 per ounce
- Silver prices remain unchanged
ISLAMABAD: Gold prices in Pakistan declined on Wednesday, tracking losses in the international bullion market, as easing global demand weighed on sentiment after recent record highs.
In the domestic market, the price of gold fell by Rs 1,200 per tola to settle at Rs 466,762, according to rates released by the All-Pakistan Gems and Jewellers Sarafa Association. Likewise, the price of 10-gram gold also declined, dropping by Rs 1,028 to Rs 400,173.
The pullback followed a sharp rise in the previous session, when gold prices had surged by Rs 3,200 per tola on Tuesday to reach an all-time high of Rs 467,962, reflecting heightened volatility in both local and global markets.
Internationally, gold prices edged lower as the spot rate declined by $12 to $4,444 per ounce, inclusive of $20 premium.
Analysts attributed the dip to profit-taking after recent highs, alongside cautious positioning ahead of key global economic indicators and monetary policy signals from major central banks.
Despite the decline, gold prices remain elevated by historical standards, supported by ongoing geopolitical uncertainty, expectations of future interest rate cuts in major economies, and continued demand from central banks seeking portfolio diversification.
Market participants have observed that local prices continue to mirror the movements in international bullion markets, amplified by fluctuations in the rupee-dollar exchange rate and domestic demand trends.
Meanwhile, silver prices remained unchanged in the local market, with silver holding steady at Rs 8,361 per tola.
Bullion traders noted that short-term price movements are likely to remain volatile, with investors closely watching global inflation data, interest rate outlooks, and currency movements for further direction.
