Local Gold Prices Fall Slightly
Karachi – After several weeks of steady increases, gold prices in Pakistan have dropped slightly. The All Pakistan Gems and Jewellery Association reported a decrease of PKR 3,700 per tola (approximately 11.66 grams) on Monday.
This brings the price of a tola of gold to PKR 482,462. Similarly, the price of 10 grams of gold fell by PKR 3,172, now standing at PKR 413,633.
Also Read: Gold Prices Soar to Record High in Pakistan
The association said domestic market adjustments and a minor fall in international gold prices caused the decline.
Global Gold Market Trends
Gold prices also fell slightly in global markets. The international rate dropped by USD 37 to reach USD 4,601 per ounce. Analysts say the decline reflects fluctuations in the commodities market, influenced by the US dollar, interest rate expectations, and geopolitical tensions.
Gold’s Role in Pakistan’s Economy
Gold plays a significant role in Pakistan’s culture and economy. People commonly buy it for weddings, festivals, and as a hedge against inflation. It also serves as a popular investment during economic uncertainty.
In recent months, rising global commodity prices and the weakening of the Pakistani rupee pushed local gold rates higher. The rupee’s depreciation increased the cost of imported gold, fueling the domestic price surge.
The recent decline offers a short-term benefit to buyers and investors. Experts note that gold remains a safe-haven asset, but prices can fluctuate quickly due to global and local factors.
Outlook for Investors and Consumers
Market analysts advise investors to track both international trends and local developments before making major purchases. A senior official from the Gems and Jewellery Association said, Gold remains a secure investment, but buyers should expect short-term volatility.
While the current dip may allow consumers to buy at slightly lower rates, long-term trends suggest that prices could rise again if the rupee weakens or global economic uncertainty continues.
Summary
In summary, Pakistan’s gold market has experienced a modest decline after weeks of consecutive gains. A tola of gold now costs PKR 482,462, and 10 grams sell for PKR 413,633. Internationally, gold trades at USD 4,601 per ounce.
Gold remains a key investment in Pakistan, reflecting economic trends and investor sentiment. The recent dip may benefit buyers, but analysts warn that prices could rise again in the coming months.
