Gold Prices Continue to Fall in Pakistan: Gold prices in Pakistan today continue to fall, following the trends in the international gold market. Buyers and investors are closely monitoring these changes as rates per tola and 10-gram gold experience noticeable declines.
Latest Gold Rates in Pakistan
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola dropped to Rs. 441,462, a decrease of Rs. 1,700 in a single trading day. Similarly, 10-gram gold is now being sold at Rs. 378,482, down by Rs. 1,457.
For comparison, on Wednesday, the price per tola had reached Rs. 444,162, reflecting a decline of Rs. 2,700 during the day.
International Gold Market Influence
Gold prices globally also fell on Thursday. Spot gold declined by $17, reaching $4,191 per ounce, including a $20 premium. Investors have taken a cautious approach, booking profits ahead of the upcoming U.S. Federal Reserve meeting, which will provide important guidance on interest rate decisions.
U.S. gold futures for December delivery dropped 0.5% to $4,210.20 per ounce, while spot gold slipped 0.5% to $4,179.71 per ounce as of 0617 GMT.
Silver Prices in Pakistan
Alongside gold, silver prices in Pakistan also fell slightly. The local market reported a decrease of Rs. 85, bringing the silver rate to Rs. 6,000 per tola. Silver often mirrors gold market trends, making it important for investors to watch both metals.
Factors Affecting Gold Prices in Pakistan
Several key factors influence the fluctuation of gold prices in Pakistan:
- Global Market Trends: International gold price changes directly affect local rates.
- US Federal Reserve Policies: Interest rate announcements can impact gold demand.
- Currency Exchange Rates: A weaker Pakistani Rupee can drive local gold prices higher.
- Investor Behavior: Profit booking and market speculation can cause short-term price changes.
Expert Insights and Market Predictions
Analysts suggest that gold prices may remain volatile in the near term due to uncertainty in global economic policies. Traders are advised to monitor U.S. economic data, inflation reports, and central bank announcements, as these factors heavily influence gold and silver prices.
Conclusion
In summary, gold prices in Pakistan continue to fall, reflecting both local and international market influences. Buyers and investors should keep track of daily movements, monitor currency fluctuations, and rely on expert guidance before making decisions in precious metals.
