KEY POINTS
- 24K gold steady at Rs 425,178 per tola in local market
- International bullion eases after record $4,059 peak
- Silver extends rally, up Rs 82 per tola to Rs 5,066
- Investors book profits amid expectations of US rate cuts
ISLAMABAD: Gold prices in Pakistan remained unchanged on Thursday after touching a historic high the previous day, mirroring the stability seen in global bullion markets that paused following a record-breaking rally.
According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold stood firm at Rs 425,178 per tola, while 10 grams of 24K gold were sold for Rs 364,521. On Wednesday, the yellow metal had surged by Rs 8,400 per tola, marking a new all-time high.
In contrast, silver continued its upward trend, gaining Rs 82 per tola to close at Rs 5,066, with 10-gram silver priced at Rs 4,343.
Internationally, spot gold eased 0.2% to $4,029.86 per ounce as of 0642 GMT, retreating slightly after hitting a record $4,059.05 on Wednesday.
US gold futures for December delivery also dipped 0.6% to $4,047.80, as investors booked profits following the surge.
Global context and market sentiment
Analysts said bullion’s retreat reflected short-term profit-taking after a historic rally fueled by economic uncertainty, geopolitical tensions, and expectations of further U.S. interest rate cuts later this year.
Despite the mild correction, sentiment in the precious metals market remains broadly bullish, with traders citing sustained safe-haven demand and robust central bank buying.
In Pakistan, jewellers noted that local demand remained subdued amid record-high prices, with buyers waiting for a possible price correction. However, they said investors continued to view gold as a hedge against rupee volatility and inflation.
