Gold prices in Pakistan saw a notable decline on Thursday after a $10 per ounce dip in the international bullion market, reflecting weakened global demand and reduced investor activity. The international gold rate settled at $3,965 per ounce, which led to an immediate downward adjustment in domestic markets. Traders attributed the fall to profit-taking after Wednesday’s sharp rise, as investors shifted focus toward other safe-haven assets and awaited fresh economic indicators.
In the local market, the price of 24-carat gold dropped by Rs1,000 per tola, reaching Rs418,862, while 10 grams of 24-carat gold fell by Rs857 to settle at Rs359,106. Meanwhile, silver prices remained unchanged, with per tola silver holding steady at Rs5,034 and 10 grams at Rs4,315. Market analysts said the decline followed a short-lived rally earlier this week, which was driven by global uncertainty and fluctuating demand from retail buyers and investors.
Read more : Global gold demand hits record high
Globally, spot gold climbed 1.9% to $4,004.75 per ounce as of 0918 GMT, while U.S. gold futures for December delivery slipped 0.4% to $4,018.30 per ounce. Furthermore, spot silver rose 1.4% to $48.22 per ounce, platinum gained 2% to $1,616.20, and palladium advanced 2.9% to $1,441.24. These mixed movements highlight the volatility in global precious metal markets as investors closely monitor shifting economic trends and central bank decisions.
Just a day earlier, gold prices in Pakistan had recorded a sharp rise of Rs3,500 per tola, with 10 grams gaining Rs3,000 to reach Rs359,963. The surge came amid heightened geopolitical tensions and cautious investor behavior ahead of key international developments. However, the current downward correction shows that the market remains highly sensitive to global fluctuations, with small changes in the international rate quickly reflected in local prices.
Read more : Gold price surges to Rs 419,862 a tola
Traders believe that gold prices could remain volatile in the coming days due to ongoing global economic uncertainty and changing investor sentiment. While demand for the precious metal usually rises during unstable times, short-term profit adjustments and currency fluctuations continue to influence the overall market direction. Investors are advised to monitor global gold trends closely before making major buying or selling decisions in the domestic market.