KARACHI: After a two-day upward trend, gold and silver prices have once again shown a downward movement.
According to the All Pakistan Sarafa Association, a decline has been recorded in both local and international gold markets.
In the domestic market, the price of 24-karat gold per tola dropped by Rs1,200 to Rs466,762, while the price of 10 grams of gold decreased by Rs1,028 to Rs400,173.
Meanwhile, the price of silver remained unchanged at Rs8, 361 per tola.
On the international front, gold became cheaper by 12 dollars, bringing the price of gold per ounce down to 4,444 dollars.
Gold prices in Pakistan are influenced by a combination of international and domestic factors.
Globally, the price of gold is affected by currency fluctuations, especially the strength of the US dollar, changes in international gold markets, and geopolitical tensions, which often drive investors toward gold as a safe-haven asset.
Economic indicators such as inflation, interest rates, and stock market trends also play a significant role in shaping gold demand and prices.
Domestically, local demand from the jewelry and investment sectors, import policies, taxes, and duties impact gold prices.
Fluctuations in the Pakistani rupee against the dollar can make gold more expensive or cheaper for local buyers.
Seasonal factors, cultural events, and festivals, which increase the demand for gold ornaments, also contribute to short-term price variations within the country.
