KARACHI – Gold prices in Pakistan witnessed a decline on Saturday, following a downward trend in the international bullion market. According to data shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs 1,100, bringing it down to Rs 356,600, while the rate of 10 grams decreased by Rs 943, settling at Rs 305,727.
The drop comes on the back of global developments where international gold rates eased after several consecutive sessions of strength. Analysts attribute this correction to shifting expectations around U.S. Federal Reserve policies and fluctuating demand for safe-haven assets.
Gold, which traditionally benefits from economic uncertainty, saw reduced momentum as investors sought clarity on possible interest rate cuts and a stronger dollar weighed on commodities. Market observers note that even slight adjustments in the global outlook tend to directly impact Pakistan’s bullion market, given its sensitivity to international benchmarks.
For local buyers, especially jewelers and families preparing for the upcoming wedding season, the decline presents a temporary relief. Jewelers in Karachi and Lahore reported increased footfall in markets after the latest price cut, as customers rushed to take advantage of the lower rates. On the other hand, investors holding gold as a hedge against inflation and currency depreciation are expected to monitor the international trend closely before making further moves.
While the local market remains volatile, traders are hopeful that demand will continue to pick up if prices maintain a downward trajectory. However, any fresh surge in global markets could immediately reverse the trend. Experts caution that the bullion market in Pakistan remains highly reactive to both the international dollar movement and central bank announcements abroad.
This story has been reported by PakTribune. All rights reserved.