Local Gold Prices Extend Their Losing Streak
Gold prices in Pakistan fell for the third trading session in a row, as weaker demand and international pressure pushed the market lower. Jewelers reported that the price of 24-karat gold dropped by Rs1,000 per tola, bringing the new rate to Rs443,162.
Prices also slipped for 10 grams of gold. The rate fell by Rs858, and now stands at Rs379,939. Traders say buyers are adopting a cautious approach because the market has become unpredictable, as also highlighted in the latest gold price drop in Pakistan. Many customers wait for clearer signals before making jewelry purchases, especially during uncertain economic periods.
International Market Pushes Prices Down
Gold also lost value in the global bullion market. The international price fell by $10 per ounce, landing at $4,208. Analysts note that global investors moved toward riskier assets after recent economic data suggested modest stability in major economies.
Several factors have shaped global gold sentiment in recent weeks:
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Investors expect fewer interest rate cuts from the US Federal Reserve.
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The US dollar has held steady, reducing pressure on alternative assets.
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Risk appetite has improved in global stock markets.
These trends usually weaken demand for gold, which often rises when investors seek safe-haven assets.
Back-to-Back Drops Highlight Market Sensitivity
This latest decline follows an even larger drop a day earlier. On Tuesday, the per-tola price fell by Rs2,700, closing at Rs444,162. Over two days, gold has now lost more than Rs3,700 per tola.
Pakistan’s gold prices frequently react to small movements in the global market. Because the country imports most of its gold, even minor changes in the exchange rate can create sharp swings in the final retail price. When the rupee gains strength, domestic gold becomes slightly cheaper. When the rupee weakens, prices climb quickly.
Traders also point out that local sales fluctuate with wedding season demand. When wedding activity slows, buying usually drops, creating more room for price corrections.
Silver Prices Move Upward
While gold lost value, silver saw a slight rise. The price of per tola silver increased by Rs81, reaching Rs6,085. Silver prices have stayed relatively stable through the year. Its industrial use helps maintain demand, especially in sectors such as electronics and solar technology.
Small investors also prefer silver when gold becomes too expensive. Its lower price makes it an attractive option for those seeking a safe, accessible asset.
Domestic Economic Conditions Influence Buying
Pakistan’s broader economic situation continues to shape the precious metals market. Inflation has eased compared to last year, but the cost of living remains high. Many households have cut back on discretionary spending, including jewelry.
Gold dealers say customers now focus more on essential purchases. Investors also show less interest in holding gold as a hedge because they expect gradual economic improvement. This shift has reduced speculative buying and supported recent price declines.
What to Expect in the Coming Days
Market observers expect both local and international gold prices to remain sensitive to new data. Key drivers in the short term include:
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Global inflation reports
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Central bank announcements
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The performance of the US dollar
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Any sudden geopolitical developments
For now, the recent drop offers short-term relief to buyers preparing for weddings or gifts. However, dealers warn that prices can change quickly. They advise consumers to monitor the market closely and avoid last-minute decisions.
Gold remains one of Pakistan’s most trusted investment options, but its volatility continues to challenge both investors and ordinary buyers.
