KARACHI: Gold prices in Pakistan fell on Saturday, August 15, in line with a decline in international gold prices amid continued geopolitical uncertainty.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold in Pakistan fell by Rs500 per tola to Rs459,936. It stood at Rs460,436 in the previous session.
The gold price in Pakistan per 10 grams also declined by Rs429 to Rs394,320 from Rs394,749.
In the international market, the gold price fell by $5 to $4,375 per ounce from $4,380, according to the association.
Gold Prices in Pakistan
The decline in gold prices in Pakistan followed a drop in international bullion prices as investors continued to monitor geopolitical developments.
Gold remains a popular safe-haven asset during periods of economic and geopolitical uncertainty. Its price often reacts to changes in global risk sentiment, inflation expectations and interest-rate outlooks.
Silver Prices in Pakistan
Unlike gold, silver prices in Pakistan increased on Saturday.
The price of silver rose by Rs13 per tola to Rs6,951 from Rs6,936 in the previous session.
Global Factors Affect Gold Prices
Investors continued to monitor tensions in the Middle East as Iran and the United States remained at odds over efforts to end the conflict in the Gulf.
President Donald Trump said Washington will hit Iran hard economically, as US and Tehran struggle to reach a deal to end a nearly six month war.
At the meantime, he said he would soon declare the Strait of Hormuz US territory, an action which would open another front in the escalating tensions.
His statement come a day after US Treasury Secretary Scott Bessent said Washington was going to apply measures that have “never been seen” on Tehran as soon as next week.
Trump has repeatedly claimed that the strategic waterway is under US control. Iran has rejected the claim.
Shipping through the Strait of Hormuz also appeared to slow sharply on Friday after two more vessels were reportedly attacked. The United States said it could maintain a naval blockade of Iran indefinitely.
Market uncertainty over the conflict and disruptions to shipping through the Strait of Hormuz could continue to influence gold prices and other global commodities.
