KARACHI: Following a brief one-day increase, precious metal prices have once again fallen nationwide.
According to the All Pakistan Sarafa Gems and Jewellers Association, notable declines were recorded in both global and local gold markets, leading to a cautious approach among buyers and investors.
The association reported a drop of Rs 4,700 in the price of 24-karat gold per tola, bringing it down to Rs 455,562.
Similarly, the price for 10 grams of gold decreased by Rs 4,030, settling at Rs 390,570.
Silver prices also saw a reduction, with the per tola rate falling by Rs 106 to Rs 7,756, further emphasizing the bearish trend in the silver market.
On the international front, gold per ounce became cheaper by $47, closing at $4,332.
Experts attribute this downturn to ongoing global economic uncertainties, fluctuations in the US dollar’s value, and a hesitant stance from investors.
Market analysts warn that without stabilization in international gold prices, further volatility could occur in the domestic market. Meanwhile, buyers remain focused on upcoming trends.
